BREAKING: FG To Spend N6.72trn On Subsidy In 2023

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The Federal Government has said it will make provision for subsidy in 2023 to the tune of N6.72 trillion.

Minister of Finance Budget and National Planning, Mrs. Zainab Ahmed made this disclosure in Abuja on Thursday during the 2023 – 2025 Medium Term Expenditure Framework and Fiscal Strategic Paper (MTEF and FSP) Public Consultation.

Zainab Ahmed stated the government has projected fiscal outcomes in the medium term under two scenarios based on the underlying budget parameters/assumptions.

Under the first scenario, the Minister said that “the subsidy on PMS is estimated at N6.72 trillion for the full year 2023”. This amount she said “will remain and be fully provided for by the NNPC on behalf of the federation”.

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