The Minister of Finance said the landing cost of per litre of petrol is N448.
Zainab Ahmed made this known at an investigative hearing on the nation’s fuel subsidy regime between 2013 and 2021.
The Minister says the government pays an average of N283 as subsidy on per litre of petrol, amounting to N18.397 billion per day.
She pegs Nigeria’s daily consumption at an average of 65 million litres of petrol.
But the lawmakers described the figures as overblown and called on the Ministry to tighten all loose ends.
THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN
WATCH THE CRITICAL ANALYSIS AND KNOW THE RESPONSIBLE PARTIES TO BLAME FOR NIGERIA'S ECONOMIC CHALLENGES, WHILE CITIZENS ENDURE SEVERE HARDSHIPS.Watch this episode of ISSUES IN THE NEWS on 9News Nigeria featuring Peter Obi's Special Adviser, Dr Katch Ononuju, 9News Nigeria Publisher, Obinna Ejianya and Tinubu Support Group Leader, McHezekiah Eherechi
The economic crisis and hardship in Nigeria are parts of the discussion.
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