Nigeria : Group writes minister for details of N4tr fuel subsidy
- 27 April 2022 / News / 67 / Fares RAHAHLIA
The People’s Alternative Political Movement (TPA-M), at the weekend, wrote Minister of Finance, Zainab Ahmed, requesting more information on the recently approved N4 trillion subsidy payment for July to December this year.
In the correspondence from the secretariat and signed by Comrade Jaye Gaskia and Prof. Omotoye Olorode, the group said the request followed the remarks of Minister of State for Petroleum Resources, Timipre Sylva, to the effect that ‘as a country, we cannot tell the exact volume of petroleum products that we consume on a daily basis.’
TRA-M noted: “Whereas the sum of N443 billion was spent on the so-called fuel subsidy from January to June 2022, the National Assembly has just approved the sum of N4 trillion budgeted by the Federal Executive Council for fuel subsidy from July to December 2022.”
“Since members of the National Assembly passed the Supplementary Money Bill without any debate whatsoever, we are compelled to request information on the details of the said sum of N4 trillion.
“As this request is anchored on the Freedom of Information Act 2011, you are required to accede to our request within seven days of the receipt of this letter.
Nigeria-Insurance Nigeria’s mutual fund assets hit N1.52 trillion in five months
- 06 July 2022
Total Assets Under Management (AUM) of the mutual fund industry hit N1.52 trillion ($3.64billion) in the first five months of the year.This represents 8.7 per cent growth when compared to 10.6 per cen...