Cuts To Gasoline Subsidies Could Affect Forecasts

BMI View: A sudden increase in gasoline prices implemented on January 1 2012 could help foster downstream investment and boost refining capacity in Nigeria. A likely decline in fuels demand could lead to a fall in refined fuels imports. However, this abrupt and hasty move has resulted in widespread discontent, raising doubts over the government's ability and willingness to stay the

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