Following its announcement two days ago that it had suspended the planned removal of subsidy on petroleum products by the end of President Muhammadu Buhari-led administration, the Federal Government has clarified its statement, saying fuel subsidy has not been suspended.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, had on Thursday said, government had suspended the planned removal of subsidy on petroleum products by the end of President Muhammadu Buhari’s administration.
Speaking at the end of the National Economic Council (NEC) meeting presided over by the Vice President, Professor Yemi Osinbajo, on Thursday, Ahmed explained that the removal of the subsidy will likely take effect in June because the Petroleum Industry Act (PIA) and the 2023 budget provided subsidy till June, hence any delay may require the amendment of the PIA and the budget provision.
She, however, said there was no deadline given for the subsidy removal and that the incoming administration would take decision on when possible to do that.
However, in a statement signed by Yunusa Abdullahi, the Special Adviser on Media and Communications to the Minister of Finance, Budget and National Planning, Zainab Ahmed, said the Federal Government is not suspending the removal of petrol subsidy.
Ahmed said the government had expanded the subsidy removal committee to include teams from the incoming administration and state governors.