Nigeria’s Petrol Subsidy To Remain Till Mid-2023

The Federal Government reiterated petrol subsidy will remain in place until mid-2023. Ahead of the 2023 budget presentation, <br />The Minister of Finance, Zainab Ahmed says the government is proposing to spend only N3.36 trillion on petrol subsidy in 2023. <br />The minister added that the Federal Government is proposing an aggregate expenditure of N19.76 trillion for the 2023 financial year, with a projected deficit of N11.30 trillion. <br />She says the Federal Government is projecting total revenue of N8.46 trillion, out of which N1.9 trillion is expected to come from oil-related sources while the remaining is to come from non-oil sources.