We’ve Been Borrowing To Fund Petrol Subsidy — Finance Minister

In ‘Today in the News’, a newspaper review show on Vanguard Online TV, Damilola Ogunsakin, the anchor, reviewed major headlines published across major newspapers in Nigeria.

We’ve been borrowing to fund petrol subsidy — Finance Minister

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said yesterday that the Federal Government was borrowing money to fund petrol subsidies, insisting that the subsidy regime had become totally unsustainable.

Ahmed, who disclosed this at the public presentation of details of the 2023 budget in Abuja, stated: “Fuel subsidy cost was a very high one; We have been funding it from borrowing.”

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