Boss Mustapha, the Secretary to the Government of the Federation, stated that the nation spent N13 trillion on subsidy payments between 2005 and 2021 notwithstanding the controversy surrounding the elimination of gasoline subsidies.
In Abuja on Monday, Mustapha unveiled the Nigeria Extractive Industries Transparency Initiative’s 2022–2026 Strategic Plan.
He clarified that the finest management of the gasoline subsidy has been carried out by the Federal Government under President Muhammadu Buhari’s watch.
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He continued by saying that the departing administration would leave a solid foundation for the incoming administration of President-elect Bola Ahmed Tinubu.
“From that policy advisory, over N13tn is documented to have been expended on the subsidy payment between 2005 – 2021. The figure is equivalent to Nigeria’s health, education, agriculture, and defence budget in the last five years and almost the capital expenditure for ten years between 2011 and 2020,” he said.
Recall that the Federal Government proposed that the new government act on the suspension of subsidy withdrawal until the end of June.
Fuel subsidies would be eliminated by the end of June, according to Mrs. Zainab Ahmed, Minister of Finance, Budget, and National Planning, saving Nigeria N3.36 trillion.
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