The Statement
Nigeria’s national oil company stated that the government spent more than ₦4 trillion subsidising petrol in 2022, a figure widely cited in policy debates about subsidy removal.
The Facts
Financial disclosures by the Nigerian National Petroleum Company Limited confirmed that subsidy payments reached ₦4.39 trillion in 2022.
This spending represented one of the largest single items in the federal government’s expenditure and exceeded budget allocations for several sectors combined.
The Conclusion
Official financial reports confirm the subsidy cost exceeded ₦4 trillion in 2022.