Zainab Ahmed the Minister of Finance, has put the estimated daily payment for fuel subsidy at N18.39 billion.
She mentioned this during an investigative hearing of the House ad hoc committee which is investigating the petroleum subsidy regime between 2017 to 2021.
In her words:
“The total amount of subsidy per day is 18.397 billion per day,”
“So if you are projecting for the full year, it would be 6.715 trillion. If you are projecting for half year, it would be 50 percent of that.”
According to the Minister, this was calculated using the information provided by the Nigerian National Petroleum Company (NNPC) and the regulator.
She explained that the information showed that 64.96 million litres of fuel is the projected average daily truck out.
She also said N1.774 trillion was paid to independent oil marketers as subsidy in four years.
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