FG Suspends Removal Of Fuel Subsidy Till Further Notice

The Federal Government of Nigeria has postponed indefinitely the planned removal of subsidy on petroleum products.

While disclosing this development today at the the national assembly, the Minister of Finance, Budget and Economic Planning, Hajia Zainab Ahmed, at a meeting convened by the senate president, Ahmad Lawan, said the Federal Government initially had plans to remove subsidies on petroleum products from July this year and provision for the subsidy in the 2022 national budget was only till June 2022 but the federal government has decided to shelve the plan till a later date.

Minister of State for Petroleum Timipre Sylva

The meeting also had in attendance the Minister of State for Petroleum Resources, Timipre Sylva and the Group Managing Director of the NNPC Limited, Mele Kyari, among others.

The Senate President therefore urged the organized labour unions in the country to shelve their proposed nationwide protests as it was no longer necessary.

However, the Nigeria Labour Congress (NLC) had earlier announced today that there is no going back on the January 27 nationwide protest against proposed fuel price increase caused by the petrol subsidy removal scheduled for July 2022.

The NLC, in a post on its Twitter handle said “the 27th January nationwide protest against increase of petrol pump price is sacrosanct, no retreat, no surrender… Aluta continua.

Written by BoomRadioNG