We Will Remove Fuel Subsidies In 2023, Federal Government Says Nigeria's Minister of Finance, Budget and Planning, Hajiya Zainab Ahme...
We Will Remove Fuel Subsidies In 2023, Federal Government Says
Nigeria's Minister of Finance, Budget and Planning, Hajiya Zainab Ahmed, has said that the federal government will stop paying fuel subsidies in June 2023.
Hajiya Zainab stated this during the press conference she held in Abuja, the capital of the country after the conclusion of the 28th National Economic Conference.
The National News Agency reported that the payment of fuel subsidies amounted to 2.565 trillion naira between January and August 2022.
Also in its budget, the federal government has estimated to spend 3.3 trillion naira to pay fuel subsidies between January and June 2023.
She went on to say that the fuel subsidies bring a deficit to the budget that must be paid off before it can be filled.
"It is not money that we have in hand, it is money that we accept their debt to pay the support", said the minister.
"Some countries have started paying aid because of the Corona epidemic and the war in Ukraine, but they are using their money to pay the aid, but we are accepting debt to pay the aid, you see both, so we have to stop it ", said the minister