NNPC Presents N3trn Subsidy Bill For 2022 To FEC

The Nigerian National Petroleum Company, NNPC, Limited has presented to the Federal Executive Council FEC a bill of N3 trillion as what is required in 2022 for payment of petroleum subsidy.

This was disclosed by the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, while briefing State House correspondents at the end of the cabinet meeting presided over by President Muhammadu Buhari at the Council Chambers, Presidential Villa, Abuja.

The minister said that the FEC considered the request to make additional funding provision to enable the government to meet incremental fuel subsidy payment in the 2022 budget.

She recalled that only N443 billion is presently available in the 2022 budget meant to accommodate subsidy from January to June.

The Minister said with the realities on ground including the present hardship faced by Nigerians and the lack of structures to support subsidy removal, the NNPC made a request for N3 trillion from the Ministry of Finance for 2022.

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