Nigeria: 2012 Subsidy Bill Shoots Up to N1 Trillion - Jonathan

12 December 2012

President Goodluck Jonathan yesterday asked the National Assembly to approve additional N161.6 billion for petrol subsidy for 2012 to avoid fuel scarcity during the Christmas period. This will shoot up the total subsidy spending for the year to N1.048 trillion.

In two separate letters to the Senate and the House of Representatives, dated December 5, Jonathan said the additional payments were required because the N888.1 billion provided in the 2012 budget is about to be exhausted.

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