About Me

header ads

Minister Budgets 450 Billion For Petrol Subsidy in 2020

The Nigerian federal government has Stated that they will spend close to  N450 billion on 2020 fuel subsidy.


Despite the commitment by the Nigerian National Petroleum Corporation (NNPC) to rehabilitate the country's four refineries to stop importation of petroleum products.

A former NNPC chief and ex-petroleum minister, Ibe Kachikwu, had also pledged that Nigeria would end petrol importation by 2019. 

Mr Kachikwu was one of the ministers not reappointed by President Muhammadu Buhari when he named his new cabinet after his reelection.

The Minister for Finance, Budget and National Planning, Zainab Ahmed, announced the subsidy amount in Abuja at the public presentation of the 2020 budget details.

She said a provision of N450 billion has been made for 'under-recovery' of cost in respect of the importation of Premium Motor Spirit (PMS), popularly called petrol.

Post a Comment

0 Comments