- The Permanent Secretary, Federal Ministry of Finance, Mrs. Anastasia Daniel-Nwaobia, has said that the Federal Government spent N222.1billion on fuel subsidy from January to July this year.
- Mrs Daniel-Nwaobia, told the House of Representatives panel investigating the implementation of the capital component of this year’s budget, that a supplementary budget would be sent to the National Assembly to cover what has been spent so far.
- She defended the extra-budgetary spending, saying it was spent under Emergency Intervention (Fuel Subsidy Crisis) to end the eight-month long fuel scarcity which started in December last year and ended in July this year.
- She also said Nigeria’s Excess Crude Account (ECA) was depleted to about $4billion by the end of last year and $2.08billion as at June this year due to the drop in oil revenue and payment of petroleum subsidies.
- She said the drop in oil prices also affected Federal Account Allocation Committee’s (FAAC’s) distribution.
See How Much FG Has Spent On Fuel Subsidy From January to July 2015
![[TEMPORARY MOVE] As FG Issues Supplementary Import Permit For Petrol](https://nairametrics.com/wp-content/uploads/2015/09/Google-Petrol.jpg)
