The World Bank has projected that savings from subsidy removal in Nigeria would accrue to over N11 trillion by 2025.
The Bretton Wood institution made the projection in its latest Nigeria Development Update (NDU) titled: “Turning The Corner, From Reforms and Renewed Hope to Results,” launched on Wednesday in Abuja.
It projected that the removal of fuel subsidy which came into effect on June 1 would save the government N2 trillion, which is about 0.9 percent of the country’s total economic output this year.
