The Federal Government has said it will make provision for subsidy in 2023 to the tune of N6.72 trillion.

Minister of Finance Budget and National Planning, Mrs Zainab Ahmed made this disclosure in Abuja on Thursday during the 2023 – 2025 Medium Term Expenditure Framework and Fiscal Strategic Paper (MTEF and FSP) Public Consultation.

Zainab Ahmed stated the government has projected fiscal outcomes in the medium term under two scenarios based on the underlying budget parameters/assumptions.

Under the first scenario, the Minister said that “the subsidy on PMS is estimated at N6.72 trillion for the full year 2023”. This amount she said “will remain and be fully provided for by the NNPC on behalf of the federation”.

The second scenario the minister explained is that “petrol subsidy will remain up to mid-2023 based on the 18-month extension announced early 2021, in which case only N3.36 trillion will be provided for”.

The Minister cautioned that “both scenarios have implications for net accretion to the Federation Account and projected deficit levels”.

Zainab Ahmed noted: “There will be tighter enforcement of the performance management framework for Government Owned Enterprises (GOEs) that will significantly increase operating surplus/dividend remittances in 2023”.

https://thenationonlineng.net/breaking-fg-to-spend-n6-72trn-on-subsidy-in-2023/

On subsidy when NNPC have been sold out?

There was never anything like subsidy... Buhari who was very quick to make himself the minister of petroleum knew why he appointed himself as a minister....

He and his I'll were sharing the subsidy money while they had already calve out plans to sell NNPC ...

To dangote?

[img]https://giffiles./216/216347.gif[/img]

Smh

All thanks to Bubu

This woman

Una don start again

Clueless government

Sai Sai sai

Who do Nigeria this thing na

Trash from a northern female slave from the sahel.

Rubbish

Subsidy is SCAM..
Why are they saying this again??
..
Even after after converting NNPC to NNPC Ltd.??

And that is why subsidy should go

The more the cost of crude oil rises, the more the difference between the production cost, and the government set price....the more spent on subsidy.

But everytime subsidy removal has been suggested...since the 1980's , Nigerians have always said no. And even those that understand, most still say NO.

It is costing us too much money, falied refineries, and so on to keep the subsidy running. It is time it went. It should have gone in 2012 , even 1993, but no....we all want to buy fuel at N40 per liter.

Modifed

Anyone who wants to read more should consult the following

1.Fuel subsidy and fake subsidy by Simon Kolawole

2.Fuel subsides in Nigeria bad for economy

We have been warned, but succesive governments won't listen. Now we have to pay for the refusal to listen.

All these trillions being used to service petrol subsidy yearly, why not use them to fix the refineries and then totally deregulate the petroleum sector? How long shall government take decisions based on emotions rather than economic logic? Same with University education. Why not allow university autonomy and allow university raise their own revenue and spend it on their schools with only the FG taking supervisory role to discourage corruption? Yeah! High fees and all that will come in but at least with a transparent scholarship scheme..... Maybe say any student who scored 250 or 300 in Jamb qualifies for such scholarship will ensure those who are brilliant but would hitherto be unable to get good quality education qualifies for such. But nah! We'd rather have Endless ASUU strikes and substandard educational system so as to appeal to majority. I'm not an elite nor am I elitist but a serious government needs to take some hard decisions for the benefit of the nation. This petrol subsidy and several others don't help the nation.
That said, I've got some very nice auto deals. I've got a 2011 Mercedes C300 for sale @3.9 Million Naira and several other cars like A 2003 Camry, 2006 Toyota Highlander and several others. For inquiries and negotiation, my WhatsApp number is 08089945511

Can't we begin to look for alternative sources of energy abi which kind yeye government we get like this.

BluntCrazeMan:
Subsidy is SCAM..
Why are they saying this again??
..
Even after after converting NNPC to NNPC Ltd.??

Because if they remove it, we would be paying N500 and higher for one liter of petrol.

Which makes sense economically, but politically...

No biafra will rule naija...Even my dog knows this Lollll

Vote Bola Ahmed Tinubu

Only and Intelligent Accountant like Tinubu can navigate the financial tides of Nigeria

All Nigerian politician are thieves including peter obi

Tinubu about to loot

JASONjnr:
There was never anything like subsidy... Buhari who was very quick to make himself the minister of petroleum knew why he appointed himself as a minister....

He and his I'll were sharing the subsidy money while they had already calve out plans to sell NNPC ...

There is a subsidy, otherwise, you would have been paying market price for fuel...which is closer to N600 than N200 in reality.

Moh247:
Only and Intelligent Accountant like Tinubu can navigate the financial tides of Nigeria

Tinubu won't remove subsidy....

Because he wants to be in power.

The politicians should buckle up.. they put us in the mess and they should find a solution to it. God already blessed us with abundant resources but it is mismanagement that is our problem

Subsidywise20:


Tinubu won't remove subsidy....

Because he wants to be in power.

Subsidy would die naturally when BUA group and Dangote group start refining more crude than Nigerians can consume daily

This woman is a thïef, she might be right but she too love expenses, it shows it's the only way she can embezzle funds, example there is no exact calculation to know how much subsidy is paid cause no one really knows the quality of fuel Nigerians use daily.
He case will be worst than Diezani

The kain looting this woman and apc are doing, Diazeni is chicken change.

If u want excessive looting without imprisonment, just put them to head a ministry. They will loot and no police cruto not to talk of efcc wil tell them good morning

One nigeria pure scam

Same subsidy that was a scam under GEJ?? abi APC and Buhari have another subsidy I dont know. cos I dont want to believe they continues GEJ scam.

Moh247:


Subsidy would die naturally when BUA group and Dangote group start refining more crude than Nigerians can consume daily

We need far more refineries than BUA and Dangote...plus BUA won't be refining crude into petrol from his own refinery.

Minister of petroleum de cashout...