Tinubu's Govt Now Pays About N600bn Monthly For Fuel Subsidy - Rainoil CEO, Ogbechie Confirms

Date: 16-04-2024 7:49 pm (1 week ago) | Author: kacy lee
- at 16-04-2024 07:49 PM (1 week ago)
(f)

Rainoil Chief Executive Officer, Gabriel Ogbechie has made a startling revelation of Tinubu's government still paying about N600 billion monthly for fuel subsidy.

Ogbechie made this statement on Tuesday during the Stanbic IBTC Energy and Infrastructure Breakfast Session held in Lagos.

He pointed out that with Nigeria’s daily fuel usage at 40 million liters and the foreign exchange rate at N1,300, the government’s subsidy per liter of fuel falls between N400 and N500, culminating in a monthly total of approximately N600 billion.

Recall that GISTMANIA reported that former Kaduna State governor, Nasir El-Rufai also made the same claim.

As against what was made known by president Tinubu during his Inaugural speech as seen below:

<a href="http://www.youtube.com/watch?v=_OODj9QI8To" target="_blank" class="aeva_link bbc_link new_win" rel="nofollow">http://www.youtube.com/watch?v=_OODj9QI8To</a>

Posted: at 16-04-2024 07:49 PM (1 week ago) | Addicted Hero
- Robertocalos at 16-04-2024 08:52 PM (1 week ago)
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 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes
Posted: at 16-04-2024 08:52 PM (1 week ago) | Upcoming
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- fineboy77 at 16-04-2024 09:16 PM (1 week ago)
(m)
Fuel subsidy is gone  Grin Grin Grin Grin Grin Grin
Proceeds now channeled to private bank accounts.
Posted: at 16-04-2024 09:16 PM (1 week ago) | Addicted Hero
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- gogoman at 16-04-2024 10:10 PM (1 week ago)
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 Roll Eyes Roll Eyes Roll Eyes lies
Posted: at 16-04-2024 10:10 PM (1 week ago) | Grande Master
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- ficull at 17-04-2024 02:25 AM (1 week ago)
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Is it the fuel subsidy they told us has fully been removed? See? When you elect thieves, expect looting.
Posted: at 17-04-2024 02:25 AM (1 week ago) | Gistmaniac
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