Subsidy Removal: N20m Shared To Each State So Far – Edun

The Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, has said that N2 billion has so far been distributed to each state government from the N5 billion set aside for palliative as a result of the removal of fuel subsidy.

Edun said this on Friday during a briefing in Abuja attended by major government officials including the Minister of Budget, Mr Abubakar Bagudu; and the Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari.

Also in attendance were the Director General of the Budget Office, Mrs Patience Oniha; the Senior Assistant to the President on Tax Reforms, Mr Zacch Adedeji; and the Chairman of the Presidential Tax Reform Committee, Mr Taiwo Oyedele.

According to Edun, the partial release of the funds is to curb inflation.

On budget, Edun restated the position of President Bola Tinubu that the nation could not continue to service its debts with over 90 percent of its revenue.