In a surprising turn of events, the Federal Government of Nigeria, led by President Muhammadu Buhari, has put a halt to plans of removing fuel subsidy by June this year.
This announcement was made by the Minister of Finance, Budget and National Planning, Ahmed Zaniab, following a National Economic Council meeting chaired by Vice President Yemi Osinbajo.
Zaniab explained that the issue of fuel subsidy was extensively discussed by the State Governors and it was decided that removing it at this time would not be in the best interest of the nation
According to her, “the government is still settling down after the elections, and they need to focus on governance and the welfare of the Nigerian people.”
Furthermore, the minister stated that the committee responsible for discussing the fuel subsidy issue needs to be expanded to accommodate input from concerned Nigerians. This will allow for a more robust dialogue with the Nigeria Labour Congress and more engagement with the petroleum marketers’ association, among other stakeholders.
This decision by the government is sure to have a significant impact on the economy and the everyday lives of Nigerians.
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