President Tinubu Authorizes NNPC Dividends for Petrol Subsidies Amid Financial Strain
President Bola Tinubu has sanctioned the use of Nigerian National Petroleum Company Limited's 2023 dividends to cover petrol subsidy costs. This move is aimed at alleviating the financial pressure on NNPC, which is struggling to remit taxes and royalties to the federation account amidst heavy subsidy expenditures projected to reach N6.884 trillion by the end of 2024.
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