FG to move fuel price from N87 to N97, to remove subsidy next year...

THE Federal government Monday alerted Nigerians to prepare ahead for what it termed, more austere conditions in view of the strict economic policies being put in place by the Muhammadu Buhari led administration, just as it vowed to strictly monitor expenditure of all Ministries, Department and Agencies, MDAs to avoid wastes.

The Federal government has also planned to in that 2016 budget, reduce the Personnel cost form N1.8 trillion to N100 billion as part of moves to reduce expenditure and save cost.
According to the government, an excess of N1 trillion was spent on fuel subsidy in the year 2015 which include the Nigeria National Petroleum Corporation, NNPC,  just as it disclosed that attention would be given to Internally Generated Revenue, IGR  to fund the N6 trillion 2016 budget, adding that in 2016, it would remove fuel subsidy, move the price of petrol per liter from N87 to N97.
These were disclosed Monday when the Ministers for Budget and National Planning, Udoma Udo Udoma; Finance, Mrs Kemi Adeosun and State for Petroleum Resource; Emmanuel Ibe Kachikwu; Governor, Central Bank of Nigeria, Godwin Emefiele; Executive Chairman, Federal Inland Revenue Service, FIRS, Babatunde Fowler appeared before the joint committees of the National Assembly on Finance to defend the  2016, 2017 and 2018 Medium Term Expenditure Framework and Fiscal Strategy Paper, MTEF & FSP documents presented to the National Assembly by President Muhammadu Buhari.

**** is about to get like so real. Change is here.