The Federal Government is proposing a 3 trillion naira budget to meet the funding provisions of the incremental fuel subsidy request in the 2022 budget.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, said this after the Federal Executive Council FEC meeting presided over by President Muhammadu Buhari at the Presidential Villa, Abuja.
According to her, only 443 billion naira had been provided for in the 2022 budget meant to accommodate subsidy from January to June, but taking the prevailing economic realities both locally and globally, into consideration, Council has proposed a year-long provision for the subsidy.
She said the request was considered by Council, which directed the ministry to approach the National Assembly for an amendment to the fiscal framework as well as the 2022 budget.
