FG Say Petrol Subsidy Removal Generate N15.8tn

By : Jolayemi Olajide

Federal Government yarn on top the removal of petrol subsidy and unification of foreign exchange market don generate additional N15.8 trillion for Federation between June 2023 and December 2025.
Minister of Finance Taiwo Oyedele disclose dis on Wednesday for media briefing on government reform scorecard, saying states and local governments get di bigger share of di money.
Oyedele explain say di subsidy savings no dey appear as separate line for Federation Account, but di gains show through higher revenue collection from exchange rate changes and removal of subsidy distortions.
Di disclosure don provide fresh government explanation on di question of where di savings from petrol subsidy removal since 2023 actually go.