FG Indefinitely Suspends Plan To Remove Fuel Subsidy.
The Federal Government has postponed the proposed removal of fuel subsidy, as announced by Zainab Ahmed, Minister of Finance, Budget, and National Planning.
The Minister said the ban is in effect until further notice at a meeting at the National Assembly in Abuja on Monday.
Remember Ijaw News reported that the Minister of State for Petroleum, Timipre Sylva, has stated that President Muhammadu Buhari does not favour the elimination of the subsidy on Premium Motor Spirit, also known as petrol.
The Minister added that the impact on Nigerians is one of the reasons why the Federal Government is not considering eliminating gasoline subsidies.
He said, “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.
“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.
“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.”