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Federal Government is verifying N451 billion new subsidy claims by petroleum importers to ascertain the authenticity of such claims, the Minister of Finance Dr. Ngozi Okonjo-Iweala has said. The initial subsidy claims brought forward from the 2011 was N232 billion. Federal Government intends to spend N888 billion on subsidies this year. Over a trillion naira was said to be paid on subsidies last year. (View full text)
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