Ahead of the 2023 budget presentation, the Federal Government, yesterday, insisted that petroleum subsidy would remain in place until mid-2023. In addition, the government will borrow over N11 trillion and sell national assets to finance budget deficit next year.
The authorities of the Federal Inland Revenue Service (FIRS) have distanced the agency from alleged scams in petrol subsidies running into trillions of naira in the country. FIRS Executive Chairman, Mr Mohammed Nami who appeared before the Ibrahim Al-Mustapha Aliyu-led Adhoc Committee probing into the petroleum subsidy regime explained that the role of his outfit […]
For political reasons, especially to keep the current government in power, the decision to stop the payment of subsidies has remained elusive and the rise of the cost of the scheme, believed to be in favour of the masses is now the leading cause of their adversity.
If the government can budget N4 trillion (about $9 billion) for petrol subsidy, it should be able to afford incentives to improve energy access and promote the development