The Federal Government has reiterated that there is no provision for electricity and Premium Motor Spirit, popularly called petrol subsidy in 2021.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, said this on Tuesday during a virtual meeting in Abuja.
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Ahmed who was responding to a question on whether the reduction in petrol price about a month ago had led to the return of subsidy, while speaking, Ahmed said, “The answer is a flat no.
“We are not bringing back fuel subsidy. We didn’t make provision for fuel subsidy in the budget. The impact of what was done was reducing some of the cost components that were within the template.
“And also related to it, on matters of electricity subsidies, no provisions have been made for subsidy for fuel and no provisions have been made for subsidy for electricity.”
The minister who also commented on the issue of unclaimed dividends of investors in the stock market, said “On the issue of unclaimed dividends and government’s accounts and projections, there would be as much as N850bn to be realised into the special trust fund of unclaimed dividends,” she said.
“Government is keeping the money in trust for the beneficiaries. At any time, a registrar or a bank confirms that this is the true and bona-fide beneficiary of this fund, then government will release from that trust fund to the investor who has it.”
