Nigeria loses N13tn to forex subsidy — World Bank

The Federal Government incurred a significant loss of N13.2tn in foregone revenue as a direct consequence of the implementation of its foreign exchange subsidy policy between 2021 and 2023, the World Bank has stated. It said the government lost N2tn in 2021, N6.2tn in 2022, and N5tn in 2023. The amount forgone in revenue was