Despite having spent $2.41 billion on the subsidy in the first five months, Nigeria could save up to $5.10 billion this year from scrapping the petrol subsidy and from FX reforms, the World Bank said on June 27.
Gillis-Harry, in a telephone conversation told our Correspondent that PETROAN has evolved the Petroleum Products Passport, PPP, a tool that can be perfectly deployed by the industry to transparently monitor products supply and distribution across the country. Meanwhile, the projected mass rollout of Compressed Natural Gas, CNG, refilling outlets across all states of Nigeria is becoming a reality with seven banks ready to manage revolving fund facility from the African Development Bank, AfDB.
National President of IPMAN, Elder Chinedu Okoronkwo disclosed this development to LEADERSHIP on phone.
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