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You are at:Home»Business»Nigeria Government Stops Fuel Subsidy Removal
Business

Nigeria Government Stops Fuel Subsidy Removal

newadminBy newadminMay 11, 2023No Comments1 Min Read
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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 Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed disclosed this while briefing State House correspondents at the end of the NEC meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.

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.

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