Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has said that fuel subsidy was costing the Federal Government N400 billion monthly.

Edun revealed this in an interview on Channels Television.

Recall that President Bola Tinubu, during his inauguration, declared the end of the fuel subsidy era to redirect funds towards developmental initiatives.

“In terms of the government’s finances, they have been revamped and repaired.

“And it is not just the fact that there has been the removal of the petroleum subsidy which was costing N400 billion every month to the government at its height,” the minister said.