Wale Edun, Minister of Finance and the Coordinating Minister of the Economy, stated this in the recently released minutes of the June meeting of the Federation Accounts Allocation Committee.
Taking the recent hike in FX which stood at N1593.62 per dollar as of Thursday into consideration, a document from NNPCL showed that the claim had increased to N4.71 trillion as of June 2024.
Edun explained to state commissioners of finances that NNPCL got presidential approval to import fuel using a “Weighted Average Rate” from October 2023 to March 2024.
