Nigerian Govt was losing N400bn monthly to fuel subsidy – Finance Minister, Edun

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says fuel subsidy was costing the Federal Government N400 billion monthly.


Edun revealed this in an interview on Channels Television.


Recall that President Bola Tinubu, during his inauguration, declared the end of the fuel subsidy era to redirect funds towards developmental initiatives.


“In terms of the government’s finances, they have been revamped and repaired.


“And it is not just the fact that there has been the removal of the petroleum subsidy which was costing N400 billion every month to the government at its height,” the minister said.

( Hide )
  1. And we are now gaining 400bn monthly I guess? Then where is the advantage? If what gulps 400bn monthly has been removed, why must the result take years to become obvious?


Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)

Advert Enquires - Reach out to us at

© Copyright © 2023 | Your Online Nigerian Newspaper | All Rights Reserved