There will be a provision in the budget for fuel subsidy in 2022, Nigerian National Petroleum Corporation (NNPC) has revealed.
NNPC Group Managing Director, Mr Mele Kyari, disclosed this on Wednesday at a public hearing organised by the Senate Committee on Finance on the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP).
Although no provision was made for fuel subsidy in 2021, he informed the lawmakers that the government had begun a conversation with relevant stakeholders to exit the subsidy regime.
The NNPC chief, however, stated that the process may not be concluded anytime soon, hence the need to reintroduce subsidy in the 2022 budget.
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