November 28, 2022



FG pays N4.2trn as petrol subsidy in 5 years

The Workplace of the Accountant Common of the Federation (oAGF) on Wednesday revealed the complete particulars of the N4.194 trillion gasoline subsidy paid to grease entrepreneurs between January 2017 and June 2022.

A breakdown of the subsidy funds/deductions from the Federation Account computed by the oAGF by means of the Federation Account Division for the interval underneath assessment confirmed that the sum of N126.539 billion was paid in January-December 2017; N691.586 billion was paid from January-December 2018.

Others are N537.209 billion paid from January-December 2019; N133.625 billion paid from January-December 2020; N1.159 billion paid from January-December 2021, whereas N1.545 trillion had been paid between January and June 2022.

The main points of the subsidy cost had been contained in a 2-page doc submitted by the Director Overseeing the oAGF, Mr. Sylva Okolieaboh to the Home of Representatives Advert-hoc Committee inaugurated to ‘Verify the precise day by day consumption of premium motor spirit (PMS) in Nigeria’, chaired by Abdulkadir Abdullahi.

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