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FG Will Pay Petrol Subsidy In First Six Months Of 2022 – Finance Minister

Minister of Finance, Zainab Ahmed has said that the federal government will only pay petrol subsidy in the first six months of 2022.

 

Speaking at a panel session during the 27th Nigerian Economic Summit (NES#27) in Abuja on Monday October 26, the Minister announced that the complete deregulation of the downstream oil and gas sector will start by July 2022.

 

Ahmed said;

 

“In our 2022 budget, we only factored in subsidy for the first half of the year; the second half of the year, we are looking at complete deregulation of the sector, saving foreign exchange and potentially earning more from the oil and gas industry.”

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