N5.10trn spent on petrol subsidy in 2023-- set to hit all-time high in 2024 1. 2006: N220bn 2. 2007: N236bn 3. 2008: N360bn 4. 2009: N198bn 5. 2010: N416bn 6. 2011: N1.90trn 7. 2012: N690bn 8. 2013: N495bn 9. 2014: N482bn 10. 2015: N317bn 11. 2016: N99bn 12. 2017: N142bn 13.

.Agora Policy: Petrol subsidy bill to reach all-time high in 2024 | TheCable thecable.ng/agora-policy-p…

With the 2011 trend & unwillingness to prosecute the criminals, Presidency Nigeria woke up on Jan 1, 2012 to announce subsidy removal. #OccupyNigeria started.😑 Fast forward 12 years. Subsidy is supposedly removed but numbers don't lie. What happens next?🤔

Please go to the websites of NEITI, CBN, NBS, NNPCL and others and download the different reports in PDF and Excel, locate the appropriate pages and extract the data for the 18 years yourself. Also, look for wherever you can get agencies reports to FAAC. Thanks for your interest

Here you said you have checked NNPCL's financial statements and you didn't see anything close to what we posted. We asked you to share what you saw, you chose insinuations. Okay check note 24.2.3 on page 80 of the AFS and tell us the difference with the N5.10t figure for 2023.

If you are really interested, the note and page number for data for 2023 has been shared with you. If you didn't it see before, now you know where to look. For Jan to July 2024 NNPC reports to FAAC. Have a nice day.

Under-recovery was the code name for subsidy under the previous administration. Post-May 2023, it is disguised in other ways such as 'energy security expense' 'shortfall' and 'PMS Fx differential'. Subsidy was gone in June and July 2023. It returned from August.

Just look at this impressive chart by BudgIT Nigeria. Check revenue vs. expenditure; and revenue vs. debt service. Also, compare projected revenue to actual.

Nigeria’s Gross Domestic Product (GDP) grew by 3.19% (year-on-year) in real terms in Q2 2024. This growth rate is higher than the 2.51% recorded in Q2 2023 and higher than the Q1 2024 growth of 2.98%. Read the Q2 2024 GDP Report here: nigerianstat.gov.ng/elibrary/read/…

🚨Prices of selected food items NBS Nigeria data shows prices of selected food items rose by big margins year-on-year, with brown beans the highest at 263%. 2. Month-on-month presents a mixed picture: the price of tomatoes fell by 26% while that of brown beans increased by 6%.

🚨Nigeria's Official FOREX rate Here's the monthly average, official exchange rate of US Dollar to Naira over a 20-month period. What are your thoughts on the different inflection points post June 2023?

🚨National average price for petrol According to data from NBS Nigeria, this is what a chart of Nigeria's national average price for petrol over a 20-month period looks like 👇

🚨Oil price tracking below benchmark price If current pattern holds, the monthly average price of crude oil likely to be below 2024 budget benchmark, a situation last seen at the height of the pandemic in 2020. This should impact oil revenue, fx flows, petrol price, subsidy etc

🚨Uptick in trade surplus Latest trade data from NBS Nigeria shows Nigeria's exports strongly outpacing imports since Q3, 2023. Also, exports as a portion of total trade rose from 49% in Q1, 2022 to 61% in Q2, 2024. What's at play here: impact of devaluation or trade reforms?