The Federal Government reiterated petrol subsidy will remain in place until mid-2023. Ahead of the 2023 budget presentation,
The Minister of Finance, Zainab Ahmed says the government is proposing to spend only N3.36 trillion on petrol subsidy in 2023.
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.
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.