HomeTop NewsNigeria Plans To Spend N6trn On Fuel Subsidy In 2023 Says El-Rufai

Nigeria Plans To Spend N6trn On Fuel Subsidy In 2023 Says El-Rufai

Governor Nasir El- Rufa’i of Kaduna State has disclosed that Nigeria has planned to spend N6 trillion on fuel subsidy for 6 months, N4 trillion to subsidize the Naira and N300 billion to subsidise electricity in 2023.

The Governor who spoke during the 12th Kaduna State Council on Health Meeting in Kaduna on Tuesday, said the N6 trillion on fuel subsidy, which is a quarter of the budget, is more than the entire budget of states and local governments on health this year.

According to him, the Nigerian National Petroleum Company Limited (NNPCL) has not remitted anything to the federation account since the last quarter of 2021 which had forced Nigeria to depend mainly on import duties and taxes as revenue allocation shared by the three tiers of government.

He said the dwindling revenue has forced states to re-prioritize their spendings and cut their expenses.

The Governor explained that the Kaduna state government “is working hard to achieve it’s goal of making healthcare affordable and accessible to the people, but this cannot be done without cash backing.”

He said the state is managing by depending on the little amount that comes from the Federation Account and it’s Internally Generated Revenue.

According to him, “our goal is to achieve Universal Health Coverage for all residents. We hope to complete the 300-bed specialist hospital in Millennium City in the second quarter with a Nuclear Medicine Center to help tackle the menace of cancer and serve as a source of medical tourism.”

Content created and supplied by: Kwaha (via Opera
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Nigerian National Petroleum Company Limited
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