Subsidy Removal: FG records over N1tn monthly revenue inflow – Minister

The Minister of Finance, Mr Wale Edun, says that the Federation Account is witnessing improved revenue inflow since the removal of subsidy, from an average of N650 million monthly to over N1 trillion in the last four months.“The committee has submitted an interim report full of optimism,” he said.

The minister also noted that the President Bola Tinubu administration was aware of the untold hardship faced by Nigerians following the removal of fuel subsidy and harmonisation of exchange rates.

“Government is bent on ensuring that the economy bounces back to normal as we continue to consolidate on recovery efforts while focusing on achieving inclusive economic growth and development,” he added.

Edun said Tinubu has put well-structured palliative measures in place to cushion the ongoing reforms’ economic consequences.


Business – Daily Post Nigeria