Plans for a total removal on the controversial fuel subsidy have been halted by the federal government.
National Economic Council (NEC) suspended the planned removal of subsidy from petroleum products by the end of President Muhammadu Buhari’s administration.
Minister of Finance, Budget, and National Planning, Zainab Ahmed disclosed this at the end of the NEC meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja today.
She says the NEC concluded in its meeting that it is not a favourable time for the action.
Councils deliberation on the matter ended in a resolve that it cannot be removed for now; equally agreeing on the need to continue the petrol subsidy discussion, preparatory work in conjunction with states and representatives of the incoming administration.
The contentious debate over subsidy removal has raged with the government at different times reporting it has indeed removed subsidy on petrol.
(C) ControlTV 2023.
