Home Breaking news Fuel Subsidy Costs N18.39bn Daily – Minister Of Finance

Fuel Subsidy Costs N18.39bn Daily – Minister Of Finance

Finance Minister , Zainab Ahmed, has compiled the daily payment for fuel subsidy at N18.39 billion.

During an investigative hearing of the House ad hoc committee which is investigating the petroleum subsidy regime between 2017 to 2021,She stated this.

“The total amount of subsidy per day is 18.397 billion per day,” she said. “So if you are projecting for the full year, it would be 6.715 trillion. If you are projecting for half year, it would be 50 percent of that.”

“The information showed that 64.96 million liters of fuel is the projected average daily truck out”, She said .

According to the Finance Minister, this was calculated using the information provided by the Nigerian National Petroleum Company (NNPC) and the regulator.

She also said N1.774 trillion was paid to independent oil marketers as subsidy in four years.