The Minister of Finance, Mr Wale Edun, has announced that the Federation Account has seen an increase in revenue inflow since the removal of subsidy, reaching over N1 trillion in the last four months. The government acknowledges that the subsidy regime was unsustainable and hindered funding for important expenditures. The present administration is committed to implementing policies that prioritize the needs and welfare of Nigerians.
The Minister of Finance, Mr Wale Edun , has said the Federation Account is witnessing improved revenue inflow since the removal of subsidy from an average of N650 million monthly to over N1 trillion in the last four months. The minister stated this on yesterday in Asaba at the opening ceremony of a four-day retreat organised for members of the Federation Account Allocation Committee, FAAC.
The minister, represented by the Permanent Secretary, Finance, Special Duties, Mr Okokon Udo, said the government had long realised that petroleum subsidy was not sustainable. According to him, the subsidy regime eroded revenues that should have been available to fund viable expenditures that were critical to the well-being of the populace. The minister said the present administration was mindful of the needs and welfare of Nigerians and assured that it would continue to implement people-oriented policie
Minister Of Finance Wale Edun Federation Account Revenue Inflow Subsidy Removal Sustainable Expenditures Nigerians People-Oriented Policies
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