Federal Government Paid N168b Subsidy To Oil Marketers – NLC President

The Nigeria Labour Congress (NLC) has berated President Muhammadu Buhari led administration for allegedly paying over one hundred Naira as fuel subsidy.

Naija News learnt the new revelation was given by NLC President Ayuba Wabba who stated this on Wednesday during a meeting with House of Representatives Speaker Femi Gbajabiamila.
According to Waba the Federal Government paid N168 billion to oil marketers as subsidy despite claiming that there is no provision for it in the 2020 budget.

However, a source at the Ministry of Finance, Budget and National Planning said: “No subsidy payment was made to anyone. It is not captured in the budget.”

The source added that the government only “gave out promissory notes not for 2020 but for 2021 to 2022

Naija News also Understands that world  Bank in a report published on Wednesday advised energy-importing developing countries like Nigeria to move away from costly subsidy schemes and allocate their limited financial resources to improving public health and education.

The report, titled, “Adding Fuel to the Fire: Cheap Oil during the Pandemic“, was published ahead of the release of the World Bank Group’s Global Economic Prospects report scheduled for June 8.