Nigeria: Deregulation: CBN Says Subsidy May Cause Financial Criises

Lagos — Except the Federal Government implements the deregulation policy immediately, the country may be heading for financial crisis, Governor of the CBN, Sanusi Lamido, has said.

"Oil is the main source of revenue to the Federal Government and we cannot afford to be paying huge amounts on fuel subsidy," Sanusi said during a meeting with the Group Managing Director of the Nigerian national Petroleum Corporation (NNPC), Austen Oniwon.

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