Federal Government says it will stop the payment of fuel subsidy by June 2023.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this during the public presentation of the 2023 Federal Government budget.
Zainab disclosed that in the 2023 fiscal period, the government has made provisions of N3.36 trillion naira for fuel subsidy payment to cover the first six months of this year.
She stated that this is in line with the 18-month extension announced in early 2022.
Breaking down the budget, the minister noted that the nation’s revenue performance as at November 2022 stood at 6. 5 trillion naira, representing an 87 percent of the set target of 7. 8 trillion naira for the year.
