The Presidency has estimated that former Vice President Atiku Abubakar’s proposal to restore petrol subsidy could cost Nigeria about ₦19.1 trillion annually.
O’tega Ogra, Senior Special Assistant to President Bola Tinubu on Digital and New Media, made the claim during a TVC News programme on Tuesday.
The controversy followed comments by Atiku’s spokesperson, Paul Ibe, that an Atiku administration would reintroduce petrol subsidy before eventually phasing it out. Atiku later clarified that the proposed subsidy would not have a predetermined withdrawal date.
Ogra questioned how the policy would be financed, arguing that Atiku’s proposal did not specify the expected cost, spending limit or volume of crude oil needed to sustain the subsidy.
He estimated that, assuming crude oil sells for $80 per barrel and the subsidy requirement is about $40 per barrel, the policy could cost ₦52.3 billion daily or ₦1.5 trillion monthly.
He further claimed that the estimated cost would amount to roughly ₦605,000 for every Nigerian.
However, the figures and assumptions cited by Ogra were not independently verified in the report.
.jpeg)
.jpeg "Sunayen kofofin aljanna guda takwas 8")
0 Comment about the Post: