Latest
FG reportedly admits paying fuel subsidy
Fuel subsidy is projected to gulp about N5.4 trillion in 2024, according to the federal government.
This is against the N3.6 trillion budgeted for the same intervention in 2023. A draft copy report of the Accelerated Stabilization and Advancement Plan (ASAP) presented to President Tinubu by the finance minister, Wale Edun, on Tuesday, showed that the estimated expenditure on fuel subsidy for 2024 is N5.4 trillion, a sum of N1.8 trillion more than the amount spent in 2023.
The ASAP was designed to address key challenges affecting the reform initiatives and stimulate development in various sectors of the economy.
“At current rates, expenditure on fuel subsidy is projected to reach ₦5.4 trillion by the end of 2024. This compares unfavourably with ₦3.6 trillion in 2023 and ₦2.0 trillion in 2022,” a draft copy of the ASAP presented by Edun said. Previously, the Tinubu-led government had maintained that it would no longer subsidise fuel costs.
-
Featured5 days agoRanking the seven greatest World Cup finals of all time
-
Business6 days agoOPay breaks silence on viral September shutdown claim
-
Latest6 days agoTinubu’s FBI records: Omokri challenges claims, cites 2003 Embassy reply
-
Business4 days agoX3M Ideas donates 50 Walkie-Talkies to strengthen security operations in Onigbongbo
-
Latest5 days ago2027: Atiku vows direct payment of local government funds if elected president
-
Latest5 days ago2027: Atiku, Obi absent as opposition begins talks on single presidential candidate
-
Latest6 days agoAnambra 2027: INEC, NDC clash over 10 disputed Assembly candidates
-
Latest6 days agoAtiku’s attack on Tinubu’s vacation ‘embarrassing, poorly researched’ — Abati