FG bows to pressure, postpones fuel subsidy removal

FG bows to pressure, postpones fuel subsidy removal

The Federal Government on Thursday said it would no longer be visible to start fuel subsidy removal implementation by June this year as earlier announced.

This came through the National Economic Council (NEC) presided over by Vice-President Yemi Osinbajo.

It agreed that the timing for the removal of petrol subsidy should not be now but that all of the preparatory works should continue in consultation with the states and other key stakeholders, including representatives of the incoming administration.

Minister of Finance, Budget and National Planning,  Zainab Ahmed, said the “council agreed that the fuel subsidy must be removed earlier rather than later because it is not sustainable”.

She said the subsidy removal had to be done in such a way that the impact, as much as possible, “is mitigated on the lives of ordinary Nigerians”.

The organised labour has kicked the subsidy removal and vowed to frustrate the plan.

The workers unions have stuck to their position despite the recent $800 million grant from the World Bank as part of the subsidy palliatives measures.

 

FG bows to pressure, postpones fuel subsidy removal