The Minister of Finance, Budget and National Planning, Zainab Ahmed, says Nigeria’s revenue has dropped by about 65 per cent.

She said this necessitated the decision of the President, Major General Muhammadu Buhari (retd.), to discontinue the payment of petrol subsidy.

Ahmed said this on NTA’s ‘Good Morning Nigeria’ programme on Monday which was monitored by our correspondent.


She said if the petrol subsidy returns, it would lead to fuel scarcity because the government would not be able to pay marketers.



The minister stated, “What we have been doing is not sustainable. If we bring back fuel subsidy, we will fail because we will not be able to pay it and the problem of disputes with marketers will come back, then we will have queues again. We just cannot afford it and therefore this deregulation must be made to work.


“We appeal to Nigerians to understand that in the past when subsidy was done, we could afford to do it but right now, we cannot pay. Remember that right now our revenue has gone down by about 65 per cent. So, it is not business as usual. We cannot do what we used to do anymore.”

She said Nigeria is currently facing difficult times like many other countries around the world.

The minister stated that the price of petrol would henceforth be determined by the price of crude oil.


When asked if subsidy would return if the price of crude oil bounces back to how it was in previous years, Ahmed said it was unlikely that would happen.

She, however, said the decision remains that subsidy would not return.


https://punchng.com/nigerias-revenue-dropped-by-65-says-finance-minister/

Buhari and his finance minister policies so far

The minister stated that the price of petrol would henceforth be determined by the price of crude oil.
When asked if subsidy would return if the price of crude oil bounces back to how it was in previous years, Ahmed said it was unlikely that would happen.
She, however, said the decision remains that subsidy would not return.
Government should handoff everything, let there be liberalisation of the supply and demand.

It should have dropped by 100% . Useless Country govern by useless and wicked leaders.

We have not kuku been feeling the impact of the revenue's they have been collecting for decades...

I Dun care

It is really unfortunate. Nigeria is rich but extremely poor. All past and present leaders are terrible and useless.

better, so you won't have plenty to pocket. learn how to manage the economy like we the masses are managing the disasters you lots are dishing out.

Zainab Ahmed is another dysfunctional character.

slivertongue:
Zainab Ahmed is another dysfunctional character.

God bless Nigeria.
Lalasticlala.

helinues:
We have not kuku been feeling the impact of the revenue's they have been collecting for decades...

I Dun care

I cant believe you wrote this!

amakadlite:
better, so you won't have plenty to pocket. learn how to manage the economy like we the masses are managing the disasters you lots are dishing out.

They can not, they must show off!

Has that reflected in the cost of governance?

Aren't we still maintaining the ostentatious lives of the politicians?

One would have expected that a country whose revenue has plummeted this much to have significantly cut down the salaries and allowances of these elected and appointed Govt officials.

Hell no! They won't.
They'll rather pass the burden to the poor masses instead of them adjusting to the new realities

gambia:
It should have dropped by 100% . Useless Country govern by useless and wicked leaders.

-Hehehe . When even gambia dey laugh you, you go no say your matter don pass elbow.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, says Nigeria’s revenue has dropped by about 65 per cent.

What about the revenue of average citizens that has dropped drastically to next to nothing and reduced in values since the implementation of multiple suffocating policies by the government ?

Yet the government is not relenting in ensuring that the masses are further impoverished just to fund the lifestyle of government officials and cronies.