The Nigerian National Petroleum Corporation has said that it requires three trillion naira for the payment of petrol subsidy this year.
This was reported by the Minister of Finance, Budget, and National Planning, Zainab Ahmed, at the Federal Executive Council meeting.
Zainab Ahmed told State House correspondents after the FEC meeting that the subsidy money is to cover Nigeria’s petrol consumption, which the NNPC puts at sixty-five point seven million litres daily.
The Minister said the figure was calculated based on the current price of crude oil at the international market, which stands at eighty US dollars per barrel.