Petrol subsidy could gulp N900bn in 2022, says minister

Petrol subsidy could gulp N900bn in 2022, says minister

Petrol subsidy could gulp N900bn in 2022, says minister     The Minister of Finance, Budget and National Planning, Zainab Ahmed has disclosed that the government would spend N900 billion on petrol subsidy in 2022. The minister disclosed these at the presentation of the draft for 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper in Abuja on Thursday. In response to a question posed on petrol subsidy, Ahmed stated that the amount currently spent on subsidizing PMS could be redirected to more productive sectors of the economy such as…

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Nigerians to buy petrol for N234 per litre as NNPC get tired of N120bn monthly subsidy payment

Petrol subsidy could gulp N900bn in 2022, says minister

Nigerians to buy petrol for N234 per litre as NNPC get tired of N120bn monthly subsidy payment     The Nigerian National Petroleum Corporation (NNPC) has lamented the burden placed on it by the ongoing subsidization of the cost of petrol also known as Premium Motor Spirit (PMS) in the country, saying that sooner or later Nigerians have to pay the actual cost for the commodity. The Group Managing Director (GMD) of the NNPC, Mele Kyari, gave the indication at the weekly presidential ministerial media briefing featuring Minister of State…

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