Improved Revenue Inflow in Federation Account Since Subsidy Removal

The Minister of Finance, Mr Wale Edun says that the Federation Account is witnessing improved revenue inflow since the removal of subsidy from average of N650 million monthly to over N1 trillion in the last four months. The minister stated this on Monday in Asaba at the opening ceremony of a four-day retreat organised for members of the Federation Account Allocation Committee (FAAC).

The minister, represented by the Permanent Secretary, Finance, Special Duties, Mr Okokon Udo said the government had for long, realised that petroleum subsidy was not sustainable. According to him, subsidy regime eroded revenues that should had been available to fund viable expenditures that were critical to the well-being of the populace

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Nigeria's Federation Account Witnesses Improved Revenue InflowThe 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.
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