Petrol, Electricity Subsidies Hurting Poor Nigerians

The World Bank says that subsidies benefit only rich households and reduce government spending on poor Nigerians. <br />The bank says Nigeria’s resources had been consumed by inefficient and regressive subsidiaries on petrol, electricity, and foreign exchange. <br />It added that the subsidies were far more than what was spent on education, health, and social protection in 2021. <br />It further noted that Nigeria had one of the lowest public expenditure and revenue levels in the world, undermining the government’s ability to improve service delivery.