FG Suspends Planned Removal Of Fuel Subsidy

The plans to remove fuel subsidy by June this year have been suspended by the Federal Government.

Minister of Finance, Budget and National Planning, Ahmed Zainab gave the indication on Thursday, shortly after the National Economic Council, NEC, meeting, chaired by Vice President, Yemi Osinbajo.

She said the NEC, which comprises State Governors deliberated on the issue extensively and came to the conclusion that it will not be wise to remove subsidy as soon as the new administration is trying to settle down to governance.

She also noted that the existing committee that has been discussing the fuel subsidy issue needed to be expanded to enable more input from concerned Nigerians.

She specifically said there needed to be more interface with the Nigeria Labour Congress, NLC, and more engagement with the petroleum marketers’ association, among others.