Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said, monthly revenue inflow into the Federation Account Allocation Committee (FAAC) fund has risen from N650 billion to N1trillion monthly since the withdrawal of subsidy on petrol.
Subsidy on petrol was declared gone by President Bola Ahmed Tinubu in his inauguration speech on May 29.
According to Edun, the subsidy regime eroded much-needed revenue.
He spoke in Asaba, the Delta State capital, at the opening of a four-day retreat organised for FAAC members.
The minister, represented by the Permanent Secretary Mr Okokon Udom, said the government realised that petroleum subsidy was not sustainable
