June 13, 2024
FG Spent N4 Trillion On Subsidies In 2022, NMDPRA Says
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FG Spent N4 Trillion On Subsidies In 2022, NMDPRA Says

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says that the federal government spent over N4 trillion on fuel subsidies in 2022.

The figures were revealed by Bashir Sadiq, NMDPRA Executive Director of Corporate Services and Administration who was representing the agency’s Chief Executive Officer, at the ongoing Energy Labour Summit organised by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

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According to Mr Sadiq, the total import of the premium motor spirit (PMS) stood at 23.5 billion litres in the period.

He also stated that the average daily truck out over 8 years stood at over 55 million litres per day, with a peak of 66.7 million litres recorded for the year 2022.

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