June 17, 2024

How FG fit stop Fuel Subsidy —Experts


ECONOMISTS and captains of industry don use the influence dem fit get, to take support the Federal Government proposal to remove fuel subsidy by 2023.  Even as dem wan do that one, dem still show concerns about the budget shortage we dey projected to hit N10.78 trillion for the 2023 budget estimate.

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On Friday, President Muhammadu Buhari go present the 2023 appropriation bill of N20.5trn to the National Assembly.  But the budget proposal come with shortage of N10.87trn, and dem go need to borrow money take do am.  Like that, the total money wey dem borrow go enter N8.80 trillion, N1.77 trillion draw-downs on bilateral/multilateral loans for specific development projects/programmes with N206.18 billion from privatization proceeds.

The experts give warning say make dem remove the fuel subsidy small small  so that dem go fit reduce the adverse impact on the populace by extension and, the economy.

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