The National Economic Council, NEC, yesterday suspended the planned removal of subsidy on petroleum products by the end of May by President Muhammadu Buhari’s administration.
It would be recalled that the Federal government had said petrol subsidy would be removed at the end of May, to be executed by the incoming government.
The announcement elicited positive reactions from Nigeria Labour Congress, NLC, and Trade Union Congress, TUC, who have both been opposed to the removal.
While TUC described the suspension as commendable, the NLC said this is the right time to decide the country’s refining capacity.
Similarly, the Centre for the Promotion of Private enterprise, CPPE, asked the Federal Government to leave the removal of petrol subsidy to the incoming government.
