Petrol subsidy is to hit n450 billion during the 2020 fiscal year.
Finance minister, Zainab Ahmed, announces this at a news conference convened for the presentation of the proposed 2020 budget bill before the national assembly
She explains that provision was made in the proposed budget for the subsidy
The minister also says that n2.1 trillion deficit in the budget will be funded from local and external borrowing
On the 2019 budget, the minister is worried over the projected n2.04 trillion revenue to finance the estimates in the budget
According to the minister, it is difficult to realise less than 80 per cent of the projected revenue.
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