News Formal

Nigerian Govt saved $20bn by removing subsidies – Finance minister, Edun

  • 📰 DailyPostNGR
  • ⏱ Reading Time:
  • 6 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 59%

Edun Nieuws

Nederland Laatste Nieuws,Nederland Headlines

The Federal Government says it has saved $20 billion by removing petrol subsidy and adopting market-based foreign exchange pricing.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this disclosure at an event in Abuja marking the first 100 days in office of Esther Walso-Jack, Head of the Civil Service of the Federation. According to him, the two subsidies were costing the country five percent of the Gross Domestic Product, GDP. “When there was a subsidy on PMS and on foreign exchange, they collectively cost five percent of GDP.

recalls that President Bola Tinubu officially ended the petrol subsidy regime on May 29, 2023.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 11. in NL
 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Nigerian Govt to commence payment of pension backlog – Finance Minister EdunThe Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has assured that the Federal Government will soon begin payment of the pension backlog.
Bron: DailyPostNGR - 🏆 11. / 59 Lees verder »