L
LequteMan
Guest
Nigeria - With the part payment of N100bn as subsidy to oil marketers Nigeria has spent 50% of the amount budgeted for subsidy this year.
FG had made provision of N200bn for petrol subsidy for the 2015 budget, and with the realities on the ground, the amount has been eroded before the passage of the budget.
With oil marketers already claiming N264bn as subsidy arrears in February, the remaining N64bn logically will be taken care of in a supplementary 2015 budget or a substantive 2016 budget.
For the whole of 2013, 2014 and the first two months this year, oil marketers recorded a total amount of N1.43tn in subsidy claims.
click here to read full report from Punch
#Nigeria #Petrol #Fuel #Subsidy
FG had made provision of N200bn for petrol subsidy for the 2015 budget, and with the realities on the ground, the amount has been eroded before the passage of the budget.
With oil marketers already claiming N264bn as subsidy arrears in February, the remaining N64bn logically will be taken care of in a supplementary 2015 budget or a substantive 2016 budget.
For the whole of 2013, 2014 and the first two months this year, oil marketers recorded a total amount of N1.43tn in subsidy claims.
click here to read full report from Punch
#Nigeria #Petrol #Fuel #Subsidy
