FG’ll tap $2.2bn Eurobond for fuel subsidy funding– Minister

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Crude oil production drops as Nigeria misses OPEC quota again


The FG is planning to tap $2.2bn by this month or next of the money it raised in a Eurobond sale last year to help fund subsidy on Petrol.

The recent spike crude oil prices triggered by the war in Ukraine had caused an increase in the cost of refined petroleum products.

The refined products are largely imported into Nigeria due to the dormancy of the country’s refineries under the management of the NNPC

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