The Vice President, Yemi Osinbajo, on Tuesday disclosed that Nigeria spent $1bn on Kerosene subsidy in 2015.
Osinbajo made the disclosure during the Domestic Liquefied Petroleum Gas Stakeholders’ Forum in Abuja.
The Vice President explained that Nigerians dependence on kerosene and firewood was why the Federal Government spent such whooping sum in subsidizing the commodity.
According to Osinbajo, the low level consumption of LPG by Nigerians was a major reason for the high demand for kerosene and firewood.
He said, “The low LPG consumption in Nigeria has resulted in heavy dependence on kerosene and firewood as primary domestic cooking fuel. The government has undertaken huge subsidy of over $1bn spent in 2015 on kerosene subsidy.”