“When other countries talk about subsidy, it is about helping companies, including public enterprises, to maximise their profits. But the subsidy is equal to fraud in Nigeria. This is the argument that has been made and we don’t need to wait for the World Bank to tell us how inefficient it is,” he said. The World Bank warned that escalating prices of essentials and the shock from the crisis in Europe would push additional seven million Nigerians into poverty at the close of the year. It is very funny how anyone thinks rice can be cultivated amid reigning insecurity in the country,” he stated.

Source: The Guardian June 26, 2022 11:42 UTC