The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, revealed that the country was spending N400 billion monthly on fuel subsidy.
President Bola Tinubu had announced the end of the fuel subsidy era during his inauguration to allocate more funds for developmental projects.
In an exclusive interview with Channels Television, Edun highlighted the significant financial burden the subsidy imposed on the government. He stated, “In terms of the government’s finances, they have been revamped and repaired. And it is not just the fact that there has been the removal of the petroleum subsidy which was costing N400 billion every month to the government at its height.”
