In its latest Nigeria Development Update, December 2023 edition, titled ‘Turning The Corner (from reforms and renewed hope, to results)’, the World Bank has raised concerns over the lack of transparency in the financial reporting of the Nigeria National Petroleum Corporation Limited (NNPCL) following the removal of fuel subsidies. The Washington-based institution highlighted the need for clarity on the financial gains from subsidy removal and the impact on federation revenues.

The World Bank pointed out that while nominal oil revenue gains have been visible since..............

https://ratecaptain.com/world-bank-criticizes-lack-of-transparency-in-nnpcs-financial-reporting-following-fuel-subsidy-removal/