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:
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