FX subsidies outpaced fuel subsidies under old regime, says Cardoso

Tribune Online
FX subsidies outpaced fuel subsidies under old regime, says Cardoso

The Central Bank of Nigeria has disclosed that unknown to most Nigerians, before foreign Exchange reforms the cost of the FX subsidy regime was higher than that of fuel subsidies. Specifically, the Central Bank said in 2022 alone, the potential revenue lost due to a less flexible FX regime was approximately…