{"id":97205,"date":"2022-07-21T22:21:58","date_gmt":"2022-07-21T21:21:58","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=97205"},"modified":"2022-07-21T22:21:58","modified_gmt":"2022-07-21T21:21:58","slug":"breaking-fg-to-spend-n6-72trn-on-subsidy-in-2023","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/breaking-fg-to-spend-n6-72trn-on-subsidy-in-2023\/","title":{"rendered":"BREAKING: FG To Spend N6.72trn On Subsidy In 2023"},"content":{"rendered":"
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The Federal Government has said it will make provision for subsidy in 2023 to the tune of N6.72 trillion.<\/div>\n
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\nMinister of Finance Budget and National Planning, Mrs Zainab Ahmed made this disclosure in Abuja on Thursday during the 2023 \u2013 2025 Medium Term Expenditure Framework and Fiscal Strategic Paper (MTEF and FSP) Public Consultation.<\/div>\n
\nZainab Ahmed stated the government has projected fiscal outcomes in the medium term under two scenarios based on the underlying budget parameters\/assumptions.<\/div>\n
\nUnder the first scenario, the Minister said that \u201cthe subsidy on PMS is estimated at N6.72 trillion for the full year 2023\u201d. This amount she said \u201cwill remain and be fully provided for by the NNPC on behalf of the federation\u201d.<\/div>\n
\nThe second scenario the minister explained is that \u201cpetrol subsidy will remain up to mid-2023 based on the 18-month extension announced early 2021, in which case only N3.36 trillion will be provided for\u201d.<\/div>\n
\nThe Minister cautioned that \u201cboth scenarios have implications for net accretion to the Federation Account and projected deficit levels\u201d.<\/div>\n
\nZainab Ahmed noted: \u201cThere will be tighter enforcement of the performance management framework for Government Owned Enterprises (GOEs) that will significantly increase operating surplus\/dividend remittances in 2023\u201d.<\/div>\n<\/div>\n<\/div>\n<\/div>\n
<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Federal Government has said it will make provision for subsidy in 2023 to the tune of N6.72 trillion. 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