We’ve been borrowing to fund petrol subsidy — Finance Minister
*Says subsidy unsustainable, *To engage NASS on N22.7trn CBN Ways & Means securitization, *Awaiting Stamp Duty investigations, As INEC gets N173bn for elections Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said that the Federal Government is borrowing money to fund the gasoline subsidy. She added that the subsidy regime had become totally unsustainable. Ahmed, who stated this at the public presentation of details of the 2023 budget in Abuja, stated: “Fuel subsidy cost was a very high one; We have been funding it from borrowing.” According to her, petrol subsidy will “remain up to mid-2023 based on the 18-month extension announced early 2022. In this regard, only N3.36 trillion has been provided for the PMS subsidy.” President Muhammadu Buhari’s administration had announced plans to end subsidy from July 2022 but changed its position when faced with threats of nationwide protests by labour. Party members and some officials of the administration were said...