Nigeria: Subsidy Payment Impedes Economy - CBN Director

Lagos — The Director, Monetary Policy Department at the Central Bank of Nigeria (CBN), Mr. Moses Tule, yesterday said fuel subsidy is hurting the Nigerian economy and should be removed if the economy must be productive.

Speaking at the annual seminar for finance correspondents and business editors in Calabar, he said fuel subsidy would continue to hurt the country's foreign reserve and obstruct her economic growth and development.

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