Arab Today, arab today nigeria to save 6 bln usd from removal of oil
Last Updated : GMT 08:44:49
Arab Today, arab today
Arab Today, arab today

Nigeria to save 6 bln USD from removal of oil

Arab Today, arab today

Arab Today, arab today Nigeria to save 6 bln USD from removal of oil

Abuja - Xinhua

Nigeria would save about 6 billion U. S. dollars by removing fuel subsidy, Minister of Labor and Productivity Emeka Wogu said here on Wednesday. Wogu said this while declaring open the 5th Quadrennial National Delegates Conference of Non-Academic Staff Union of Educational and Association Institutions (NASU) in the capital Abuja. \"The figures that will be saved is 6 billion dollars, if the revenue formula is in place, Federal Government will now get 50 percent of that amount,\" the minister said. \"And the other 50 percent will go back to finance for budget deficit and it is a lot of money,\" he added. Wogu said the 50 percent for the federal government would be domiciled in the Central Bank of Nigeria to be managed by eminent Nigerians, labor unions, youth organizations and the Nigeria Union of Journalists. He said the issue of subsidy was not an evil deal, rather it would stimulate the West African country\'s economic growth. He said the country\'s capacity to consume fuel was on the increase while the price of oil in the international market had gone up. Wogu said the four major refineries in the country located in Warri, Eleme, Port Harcourt and Kaduna were being rehabilitated.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nigeria to save 6 bln usd from removal of oil Arab Today, arab today nigeria to save 6 bln usd from removal of oil

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nigeria to save 6 bln usd from removal of oil Arab Today, arab today nigeria to save 6 bln usd from removal of oil

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday