2023 budget: Fuel subsidy payment to gulp N3.36tn in six months – Finance Minister.
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Fuel subsidies payment in Nigeria to gulp N3.36 trillion in the first six months of 2023.
By implication, subsidy payment would persist till the end of June 2023.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, made this known in Abuja during the public presentation of the 2023 national budget recently signed into law by the president, Muhammadu Buhari.
She said, “The projected fiscal result in the 2023 Budget is based on the PMS subsidy reform scenario.
“In the 2023 Budget framework, it is assumed that fuel(petrol) subsidy will remain up to mid-2023 based on the 18 months extension announced in early 2022.”
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World Bank and economic experts on different forums have continued to raise concerns over Nigeria’s continuous petrol subsidy payment.
