During a recent media briefing in Abuja, Zainab Ahmed, Minister of Finance, addressed the concerns of Nigerians regarding the payment of fuel subsidies. Emphasizing the point made by President Bola Tinubu that the subsidy regime has been discontinued, the minister emphasized that there is no provision for fuel subsidy payments in the budget, nor are any such payments being made outside of the budget.
Ahmed explained that the burden of exchange rate variations, which has contributed to the rise in petrol prices in the local market, is being borne solely by the Nigeria National Petroleum Company Limited (NNPCL).
