Fuel subsidy: FG may spend N1.5trn this year - Saraki

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18 October 2011

Fuel subsidy: FG may spend N1.5trn this year - Saraki

The Senator representing Kwara Central Senatorial District, Dr. Bukola Saraki at the weekend said the Federal Government might spend a whopping N1.5 trillion on fuel subsidy this year. He added that government expended N600 billion in 2010 alone in subsidising the same products.

Saraki, who is the chairman, Senate Committee on the Environment, spoke with newsmen at the weekend in Ilorin, the Kwara State capital, added that N1.5 trillion was "even more than the entire capital expenditure." The immediate past governor of Kwara State therefore threw his weight behind the Federal Government's proposed fuel subsidy withdrawal, urging government to win the confidence of Nigerians.