He said the subsidies used to cost five percent of Nigeria’s gross domestic product (GDP), noting that things jave now changed.
“Between them, they were costing five percent of GDP,” Edun explained.
He emphasized the significance of these savings, breaking down their potential impact. “If you say GDP was on average, let’s say $400 billion, we all know what five percent of that is – $20 billion of funds that could be going into infrastructure, health, social services, education.”