The Federal Government on Monday suspended the planned petrol subsidy removal till further notice.
Minister of Finance, Budget, National Planning, Zainab Shamsuna Ahmed, disclosed this during a meeting held at the National Assembly in Abuja on Monday.
The government had planned to stop subsidy payments on petroleum products from July this year.
The meeting was attended by Senate President Ahmad Lawan, with Minister of State for Petroleum Resources, Timipre Sylva, Group Managing Director, NNPC Limited, Mele Kyari.
Also, Sylva highlighted this point in an interview with Channels Television.
He said, “I will tell you categorically that at this moment, the complete removal of subsidy is not on our plate at all. The President of the Federal Republic of Nigeria is not in support of removing subsidy at this time.”
“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.”
The Federal Government on Monday suspended the planned petrol subsidy removal till further notice.
Minister of Finance, Budget, National Planning, Zainab Shamsuna Ahmed, disclosed this during a meeting held at the National Assembly in Abuja on Monday.
The government had planned to stop subsidy payments on petroleum products from July this year.
The meeting was attended by Senate President Ahmad Lawan, with Minister of State for Petroleum Resources, Timipre Sylva, Group Managing Director, NNPC Limited, Mele Kyari.
Also, Sylva highlighted this point in an interview with Channels Television.
He said, “I will tell you categorically that at this moment, the complete removal of subsidy is not on our plate at all. The President of the Federal Republic of Nigeria is not in support of removing subsidy at this time.”
“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.”
