The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Shehu, on Thursday revealed that Nigeria spent N1.16 trillion on fuel subsidy in 2021. Shehu said an additional N1.20 trillion was deducted from proceeds of crude oil sales accruing to the Federation Account. The RMAFC chairman made the disclosure while appearing before the Senate Public Accounts Committee (SPAC), which is investigating the 2021–2023 audit reports on the oil and gas sector. Shehu said fuel subsidy accounted for the largest deduction from federation revenues during the period under review, alongside several other industry-related expenses. AdvertisementThe RMAFC chairman also faulted the computation of the 13 per cent derivation fund, arguing that the current practice defeats the constitutional objective of the revenue-sharing principle.