Subsidy palliative: N2 billion distributed so far to states – Finiance Minister, Wale Edun

Mr. Wale Edun, who serves as both the Minister of Finance and Coordinating Minister for the Economy, has announced that each state government has received N2 billion out of the N5 billion allocated for palliative measures following the removal of fuel subsidy.

This disclosure was made during a meeting on September 1, attended by key government officials, including Mr. Abubakar Bagudu, the Minister of Budget; Mr. Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Company (NNPC) Limited; Mrs. Patience Oniha, the Director General of the Budget Office; Mr. Zacch Adedeji, the Senior Assistant to the President on Tax Reforms; and Mr. Taiwo Oyedele, the Chairman of the Presidential Tax Reform Committee. The purpose of this partial fund release is to address concerns about inflation.