FG Suspends Petrol Subsidy Removal

Following the proposed petrol subsidy removal made known by the Federal Government in 2021, it has been reported that the Minister of Finance, Budget, and National Planning, Zainab Ahmed, has disclosed that the proposed plan has been suspended.

 The Minister reportedly revealed this during a meeting held at the national assembly in Abuja on Monday.

This is coming following reports that the Minister of State for Petroleum, Timipre Sylva,  had made it known that President Muhammadu Buhari is not in support of the removal of subsidy from petrol.

Sylva stated, “I will tell you categorically that at this moment, the complete removal of subsidy is not on our plate at all.”

He noted, “The President of the Federal Republic of Nigeria is not in support of removing subsidy at this time.”

The Minister maintained, “Of course, we all know that it is a desirable policy direction. Of course, we know that it will have some impacts on the people and that is why we are trying to work out some of those things.”

He added “Until those details are worked out properly with (the organised) labour, and with all the stakeholders in the sector, we will not remove the subsidy. At this moment, it is not on our plate, I can tell you that.”

He remarked “This is something that needs to be worked out between the Federal Government and the states because this is a federation issue. We are working with the governors to see how we can continue with this policy direction of subsidising fuel for the foreseeable future.”


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Esther Ifeoluwa

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