The price of fuel per barrel is at 100 dollars by estimate this February. All thanks to the tensions in Ukraine and Russia. But how does an crude exporting nation as Nigeria benefit from this? Well, we seem to be more indebted whenever the price spikes. How long can Nigeria sustain the subsidy bill? The president is already seeking a supplementary budget of 2.557 trn Naira to cushion the impact of the rise that is ironically supposed to be to out benefit.
On this episode, we analyse the politics and economic implication of suspending the Petroleum Industry Act (PIA).
Take a listen.
