Fuel Subsidy In 2020 Higher Than Defence, Education, Healthcare Budgets — UNILORIN VC

 

Vice-Chancellor of the University of Ilorin, Prof. Wahab Egbewole, has said Nigeria’s budget spent on fuel subsidy between January 2020 and June 2022 was higher than the budget allocated to defence, education and healthcare sectors.

Egbewole, a Senior Advocate of Nigeria, also said between 2006 and 2018, about N10 trillion was spent on fuel subsidies – a development he described as a significant drain on the government’s finances, adding that only educated Nigerians understand its removal.

He

stated this at the University of Abuja, at a programme organised by the El-mavericky Centre for Educational Research and Development in honour of the former Vice Chancellor of the school, Prof. Abdul-Rasheed Na’Allah.

“Economically, fuel subsidy removal should contribute to fiscal savings for the government, allowing room for funds to be redirected to priority sectors such as education, infrastructure and healthcare.