Author:The Forum of Commissioners for Finance in Nigeria has asked the federal government to put accruals from the removal of the subsidy on petrol into the federation account.
The national oil firm has also not made any contribution to the federation account since January 2022, “withholding about N8.4 trillion as claimed subsidies”, according to theSpeaking at the event, Olofu said many Nigerians have yearned for the removal of the subsidy on petroleum motor spirits , popularly known as petrol.
“That is what we had been yearning for. He came, his first day in office, he was able to achieve that which we have always asked for.“So, I will align myself with the position of the constitution and recommend that all the accruals go into the federation account and let it be disbursed from the federation account.”