The Federal Government says over 13 trillion naira was spent on subsidy payment in 16 years between 2005 and 2021.

The Secretary to the Government of the Federation, SGF, Boss Mustapha, stated this in Abuja during the launch of the 2022-2026 Strategic Plan of the Nigeria Extractive Industries Transparency Initiative, NEITI.

According to the SGF, the figure could have been more in financial terms and opportunity costs to the nation if some cost-cutting measures were not put in place by the government.

He said the government is following the debates around subsidy removal by the citizens, some of which include the need to fix the nation’s refineries and the creation of visible safety net programmes to reduce the impact on the poor and vulnerable in society, especially workers.

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