FG proposes N305bn for subsidy in 2019 budget
President Muhammadu Buhari on Wednesday said N305 billion has been earmarked for petrol subsidy in the 2019 budget proposal .
Buhari stated this in his budget presentation speech to a joint session of the National Assembly in Abuja .
“ We have earmarked N 305 billion equivalent to one billion US dollars for under - recovery by the Nigeria National Petroleum Corporation on Premium Motor Spirit in 2019 .
“ Let me take this opportunity to address and clarify the under -recoveries on petrol .
“ In a period of economic challenges where purchasing power is weak , we must reduce some of the burden on Nigerians , ” he said .
Buhari stated this in his budget presentation speech to a joint session of the National Assembly in Abuja .
“ We have earmarked N 305 billion equivalent to one billion US dollars for under - recovery by the Nigeria National Petroleum Corporation on Premium Motor Spirit in 2019 .
“ Let me take this opportunity to address and clarify the under -recoveries on petrol .
“ In a period of economic challenges where purchasing power is weak , we must reduce some of the burden on Nigerians , ” he said .
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