$1bn spent on kerosene subsidy in 2015 – Osinbajo

$1bn spent on kerosene subsidy in 2015 – Osinbajo

Nigeria spent the sum of $1bn as subsidy on kerosene last year, Vice-President Yemi Osinbajo said on Tuesday. According to him, the massive dependence on kerosene and firewood by millions of households across the country made the Federal Government to spend such an amount subsidising the commodity.

Osinbajo, who spoke at the Domestic Liquefied Petroleum Gas Stakeholders’ Forum organised by his office in collaboration with the Federal Ministry of Petroleum Resources in Abuja, explained that the low level consumption of  the LPG by Nigerians was a major reason for the high demand for kerosene and firewood.

“The low LPG consumption in Nigeria has resulted in heavy dependence on kerosene and firewood as primary domestic cooking fuel. The government has undertaken huge subsidy of over $1bn in 2015 on kerosene subsidy,” he stated. Read more

About The Author

Osigweh Lilian Oluchi is a graduate of the University of Lagos where she obtained a B.A (Hons) in English, Masters in Public and International affairs (MPIA). Currently works with 1stnews as a Database Manager / Writer. [email protected]

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