Minister of Finance, Zainab Ahmed has said that the federal government will only pay petrol subsidy in the first six months of 2022.
Speaking at a panel session during the 27th Nigerian Economic Summit (NES#27) in Abuja on Monday October 26, the Minister announced that the complete deregulation of the downstream oil and gas sector will start by July 2022.
Ahmed said;
“In our 2022 budget, we only factored in subsidy for the first half of the year; the second half of the year, we are looking at complete deregulation of the sector, saving foreign exchange and potentially earning more from the oil and gas industry.”
