FG to spend ₦900 billion on fuel subsidy in 2022

The Federal Government has projected to spend N900 billion on subsidy payout to oil marketers in 2022.

Minister of Finance Budget and National Planning made this disclosure on Thursday at presentation of the Medium Term Expenditure Framework/Fiscal Strategy Paper for 2022-2024 in Abuja.

She also disclosed the Federal Government will spend N13.98trillion in the 2022 fiscal year.

In 2022, the government said it will slash capital expenditure to N3.61trillion in 2022, from the N4.37trillion approved for 2021.

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