The Federal Government has refuted claims that it is still paying subsidy on petroleum products.
The authorities, in a statement insisted that the era of petrol subsidy is “gone for good.”
This is the Government’s reaction to a leaked draft copy report of the Accelerated Stabilization and Advancement Plan (ASAP) presented to President Tinubu by the finance minister, Wale Edun, on Tuesday.
The ASAP, designed to address vital issues affecting the reform initiatives and stimulate development in various sectors of the economy, showed that the estimated expenditure on fuel subsidy for 2024 is ₦5.4 trillion, a sum of ₦1.8 trillion more than the amount spent in 2023.
The FG described the document as “unofficial” and urged Nigerians to ignore it.
“One of the documents titled Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024 is being shared as if it were an executive order signed by President Bola Ahmed Tinubu,” the presidency said.
“The other is a 65-page draft document with the title “Accelerated Stabilisation and Advancement Plan (ASAP), which contains suggestions on how to improve the Nigerian economy. President Tinubu received a copy of the draft on Tuesday.
“We urge the public and the media to disregard the two documents and cease further discussions on them. None is an approved official document of the Federal Government of Nigeria. They are all policy proposals that are still subject to reviews at the highest level of government. Indeed, one has ‘draft’ clearly written on it.”
Earlier, report made the rounds that Wale Edun, Minister of Finance and Coordinating Minister of the Economy in a recent presentation of the Accelerated Stabilisation and Advancement Plan, ASAP report said fuel subsidy will gulp ₦5.4 trillion in 2024.
Get instant and latest news updates via Our WhatsApp Community or Google News online channel.