Nigeria Breaking News

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Subsidy removal: Oil marketers expand borrowings by 76.5% to N3.0trn

Subsidy removal: Oil marketers expand borrowings by 76.5% to N3.0trn

At the backdrop of sharp rises in cost of procuring products and interest rates in banks petroleum marketers have recorded massive jump in bank borrowing and cost of doing business. findings from the financial records of key operators in the sector show they borrowed over N3.0 trillion in the nine months ended September 2024, 9M’24, up by …