Nigeria To pay petrol subsidy in first six months of 2022

Minister of Finance Zainab Ahmed has stated that the federal government will only pay for gasoline subsidies for the first six months of 2022.

On Monday, October 26, during a panel discussion at the 27th Nigerian Economic Summit (NES#27) in Abuja, the Minister announced that complete deregulation of the downstream oil and gas sector will begin in July 2022.

“We only factored in subsidies for the first half of the year in our 2022 budget; for the second half of the year, we are looking at complete deregulation of the sector, saving foreign cash and maybe earning more from the oil and gas industry,” Ahmed said.