Subsidy on petrol hits n1 4tn per year says fg

It seems like you're referring to a recent news article or statement from the Federal Government of Nigeria. According to the report, the Federal Government has revealed that the subsidy on petrol has reached a staggering N1.4 trillion per year.

For those who may not be aware, a subsidy is a financial assistance provided by the government to reduce the cost of a particular product or service. In this case, the subsidy on petrol is meant to make the fuel more affordable for Nigerians.

The revelation of the massive subsidy amount has sparked concerns about the sustainability of the current fuel pricing regime and the need for a more efficient and cost-effective approach to managing the country's fuel supply.

It's worth noting that the subsidy on petrol has been a contentious issue in Nigeria for years, with many calling for its removal to allow for a more market-driven pricing system. However, the government has maintained that the subsidy is necessary to protect the poor and vulnerable segments of the population from the impact of high fuel prices.

What are your thoughts on this issue? Do you think the subsidy on petrol is necessary, or should the government consider alternative solutions to make fuel more affordable for Nigerians?