FG To Spend ₦900 Billion On Fuel Subsidy In 2022
The Federal Government has projected to spend N900 billion on subsidy payout to oil marketers in 2022.
Minister of Finance Budget and National Planning made this disclosure on Thursday at presentation of the Medium Term Expenditure Framework/Fiscal Strategy Paper for 2022-2024 in Abuja.
She also disclosed the Federal Government will spend N13.98trillion in the 2022 fiscal year.
In 2022, the government said it will slash capital expenditure to N3.61trillion in 2022, from the N4.37trillion approved for 2021.
Meanwhile, Video of Buhari calling fuel subsidy a fraud appears online
Watch video below
Same Buhari who calls oil subsidy a monumental fraud in 2015 is the same man whose government today is massively paying the same subsidy or their equally fraudulent subsidy under-recovery in 2021?
Oil subsidies is now at it’s highest ever even when global oil price is slashing while the DPR does not know the average daily fuel consumption in Nigeria today. NNPC is recording humongous losses in all the moribund refineries.
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