{"id":105868,"date":"2023-12-31T19:28:17","date_gmt":"2023-12-31T18:28:17","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/subsidy-reduced-not-removed-rewane"},"modified":"2023-12-31T23:04:45","modified_gmt":"2023-12-31T22:04:45","slug":"subsidy-reduced-not-removed-rewane","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-reduced-not-removed-rewane","title":{"rendered":"\u2018Subsidy reduced, not removed\u2019 \u2013 Rewane"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Chief Executive Officer of the Financial Derivatives Company, Bismarck Rewane, has said that subsidy was not removed but reduced.<\/p>\n

He stated this when he appeared on Channels Television\u2019s on Sunday evening.<\/p>\n

During the programme, Rewane also highlighted the effects of the reduction in fuel subsidy and how it has affected Nigerian salary earners.<\/p>\n

\u201cAt the inauguration, it was said that subsidy was gone but subsidy was actually reduced,\u201d he said.<\/p>\n

According to Rewane: \u201cThere is the convergence of exchange rates and reducing the windows into one. The consequence of that money has been transferred from consumers to the government.<\/p>\n

\u201cSubsidies are reversed taxes; if you reduce them, you increase the people\u2019s taxes and reduce their income. What has happened is that government revenue has increased by 44% between May and June. Money has been transferred to the government but what is the government doing with it?<\/p>\n

\u201cThe consumers, on the other hand, had a minimum wage, which in dollar terms was 40 dollars in 2002. In 2019, it was about 70 dollars but it has now been reduced to 24 dollars.\u201d<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Chief Executive Officer of the Financial Derivatives Company, Bismarck Rewane, has said that subsidy was not removed but reduced. He stated this when he appeared on Channels Television\u2019s on Sunday evening. During the programme, Rewane also highlighted the effects of the reduction in fuel subsidy and how it has affected Nigerian […]<\/p>\n","protected":false},"author":84,"featured_media":105866,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,254,3328],"class_list":["post-105868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-nigeria","tag-rewane"],"yoast_head":"\n\u2018Subsidy reduced, not removed\u2019 \u2013 Rewane - Nigeria<\/title>\n<meta name=\"description\" content=\"The Chief Executive Officer of the Financial Derivatives Company, Bismarck Rewane, has said that subsidy was not removed ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-reduced-not-removed-rewane\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Subsidy reduced, not removed\u2019 \u2013 Rewane\" \/>\n<meta property=\"og:description\" content=\"The Chief Executive Officer of the Financial Derivatives Company, Bismarck Rewane, has said that subsidy was not removed ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-reduced-not-removed-rewane\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-31T18:28:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-31T22:04:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/12\/sm_1704043609.743925.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1359\" \/>\n\t<meta property=\"og:image:height\" content=\"906\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-reduced-not-removed-rewane#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-reduced-not-removed-rewane\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"\u2018Subsidy reduced, not removed\u2019 \u2013 Rewane\",\"datePublished\":\"2023-12-31T18:28:17+00:00\",\"dateModified\":\"2023-12-31T22:04:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-reduced-not-removed-rewane\"},\"wordCount\":195,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-reduced-not-removed-rewane#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/12\/sm_1704043609.743925.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Nigeria\",\"Rewane\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-reduced-not-removed-rewane#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-reduced-not-removed-rewane\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/subsidy-reduced-not-removed-rewane\",\"name\":\"\u2018Subsidy reduced, not removed\u2019 \u2013 Rewane - 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