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Saudi Aramco’s $75bn dividend payment shows what Nigeria is missing

Saudi Arabia’s majority-owned state-owned firm, Saudi Aramco, is paying shareholders $75 billion in dividend, an amount twice the size of Nigeria’s 2021 budget, indicating how a well-run oil company can provide a lifeline to an economy. This is even remarkable considering that the company’s profit fell by 44 percent in 2020 following the COVID-19 pandemic as reported.

 

Extracted from Business day

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