Nigeria's Fuel Importation Expenses

 *Monthly Expenses*: Nigeria spends $600 million on fuel importation every month .

 *Reason for High Expenses*: The high import bill is due to neighboring countries, up to Central Africa, benefiting from Nigeria's fuel imports.

 *Fuel Subsidy Removal*: President Bola Tinubu removed the fuel subsidy on May 29, 2023, as the country lacks precise data on its domestic fuel consumption.

 *Impact of Fuel Subsidy Removal*: The removal of the fuel subsidy led to a decrease in petrol imports, which dropped to an average of one billion liters per month.

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