The government of Nigeria has allocated 3.36 trillion Naira which is about 7.6 Billion US Dollars for fuel subsidy in 2023 as the country's debt profile hits 102 billion US Dollars.
 
 Minister of Finance, Zainab Ahmed who made this known on Wednesday, in Abuja, the nation's capital, said the 2023 appropriation bill has a budget deficit of 10.78 trillion Naira.
 
 She said this will be funded through domestic and multilateral borrowings and proceeds from privatization.
 
 According to her, of Nigeria’s $102bn debt, 35% is foreign and 65% is domestic, adding that the current public debt is at 23% of the country’s gross domestic product.
 
 The Minister also said the 2023 budget also factored in 17.16% inflation.