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Wale Edun, Minister of Finance and Coordinating Minister of the Economy, has said that fuel subsidies cost the Federal Government N400 billion every month.
Edun stated this in an interview with Channels Television on Saturday.
During his inauguration, President Bola Tinubu announced the end of the gasoline subsidy period in order to shift funding to development activities.
According to the minister:
“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.”
cc: Daily Post Ng
