“The October 2021 value shortfall of N199,007,758,422.75 is to be recovered from the November 2021 proceeds due for sharing at the December 2021 FAAC meeting.”
He stated that the Nigerian Governors’ Forum had met and agreed to back the Federal Government’s transport palliative scheme as well as halt the petrol subsidy regime. “I don’t want to predict what will happen when 35 out of 36 states cannot pay salaries of civil servants, or even have any money to run the government. We will not have enough money to pay salaries. Already, some states are building up arrears, even oil-producing states are struggling to pay salaries.”
He said, “The Federal Government is talking about removing subsidy but not talking about the adverse effects of the removal of subsidy. It will affect other commodities, the standard of living among the majority of citizens will be worse.
Gross incompetence!
From 'Subsidy is a fraud' to 'Under recovery' to 'Subsidy has been removed' back to 'Under (or is it over) recovery' to finally admitting 'Fuel Subsidy is unsustainable'. How can what was said not to exist suddenly exist and be so atrociously high as N1.03tn?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fuel Scarcity: Zamfara govt to investigate, sanction erring fuel marketersThe Chairman, Zamfara State Taskforce Committee on security, Abubakar Mohammed Dauran has vowed that his committee would deal ruthlessly with independent
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Federal Govt Makes N1.5trn From VAT In 9 MonthsTotal Value Added Tax (VAT) collected by the Federal Government over the last nine months of 2021 increased by 40 per cent to N1.509 trillion compared to
Source: LeadershipNGA - 🏆 4. / 77 Read more »
How to halt N1t electricity subsidy, CBN’s N1.5t interventionsElectricity stakeholders in the country, yesterday, insisted that removal of subsidy in the power sector was feasible if the Federal
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Amid Controversies, 82 CSOs Canvass Fuel Subsidy RemovalFestus Akanbi About 82 Civil Society Organisations (CSOs) under the aegis of Civil Society Coalition for Economic Development (CED) have hailed President Muhammadu Buhari over plans to end subsidy … Government-owned and government-sponsored CSOs
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
How corruption, regulatory failure fuel Nigeria’s tragic building collapses - Punch NewspapersThe most widely read newspaper in Nigeria
Source: MobilePunch - 🏆 8. / 63 Read more »
Group Sues Attorney-General Malami, Amnesty Programme Boss, Dikio, Others Over N1.8billion Contract Payment | Sahara ReportersThe suit was filed over the disputed issue of payment of N1.8 billion for the purported supply of equipment to the looted Amnesty Training centre in Boro town in Kaima, Bayelsa State. Always sueing..........for how many years 🤦🤦🤦 Criminals Fulani See his face .. criminal in black and white
Source: SaharaReporters - 🏆 9. / 63 Read more »