A recent study by the IMF predicts that Nigerian energy subsidies are projected at about 2.2 billion for this year , or $5.3 trillion of global GDP. Subsides are expected to remain high despite sharp declines in international energy prices; the subsidy per a litre of fuel was N46.58 while the landing cost stands at N118.09 meaning the country is expected to spend $5.3 trillion on fuel subsidy from a consumption of 48 million litres of fuel.
A recent study by the IMF predicts that Nigerian energy subsidies are projected at $5.3 trillion for this year, or 6.5 per cent of global GDP. Subsides are expected to remain high despite sharp declines in international energy prices; the subsidy per a litre of fuel was N46.58 while the landing cost stands at N118.09 meaning the country is expected to spend about 2.2 billion on fuel subsidy from a consumption of 48 million litres of fuel.