Following the u-turn made by the Federal Government on the planned removal of petrol subsidy, the government has revealed that it would cost the country a sum of N3trillion to fund petrol subsidy in the year 2022 at N270billion per month.
This was made known as the Minister of Finance, Budget and National Planning spoke to correspondents after the week’s Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja.
According to her, a sum of N443billion was made available to subsidize petrol from January to June 2022 in the year 2022 Budget, as appropriated.
She also gave an insight on how the N3trillion would be sourced which she hinted would be achieved through domestic borrowings, among other means.
This latest development on the fuel subsidy palaver in Nigeria has continued to generate reactions and comments. One of such comments was made by the Edo state Governor Godwin Obaseki who felt the country keeps wasting resources in the name of fuel subsidy.
“We have a choice of continuing to behave like Father Christmas or take concrete actions on a problem that is permanent with us rather than throwing away N3trillion on subsidy”, he said.
SOURCE: OperaNews