Petrol Subsidy To Hit N450 Billion In 2020

Petrol Subsidy

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.

READ MORE ABOUT Smuggling: Partial Border Closure Reduces Petrol Consumption

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