The Finance Minister mentioned that the removal of the subsidy on petrol has not been stopped

Posted by

The Minister of Finance, Budget, and National Planning, Zainab Ahmed, said that the government still has a plan to completely remove fuel subsidy in the country by June 2023.

Her adviser, Yunusa Abdullahi, made a statement explaining everything.

Ahmed explained that she did not say the government had stopped the removal of petrol subsidy. She only said they needed more time to discuss it and allow the new government to start working.

The government is not going to stop taking away the subsidy for petrol. They just want to add more people to the group that decides how to take away the subsidy.

She said that after discussing it, the NEC decided that the fuel subsidy should be taken away because it can’t be supported for a long time.

As she said.
Ahmad said that they agreed to make a bigger group that will think about how to stop giving extra money for things, and they will figure out when this will happen and what they can do to help poor people. This was mentioned by Yunusa Abdullahi, who works with the minister and talks to the media.

We also need to decide on other plans to make sure there is enough gas and oil available in the country.

Ahmed said that they still plan to stop giving subsidies by June 2023, just like what was written in the 2023 budget plan and the petroleum industry law.

The group will make a plan to stop giving money for certain things. The minister said that there won’t be any change in the petrol subsidy policy until June 2023.

READ ALSO:  Tinubu assures Nigerians that things will improve despite their current precarious state

She said that the subsidy removal committee is made up of different groups, including the ministry of finance, budget and national planning, the ministry of petroleum resources, the Nigerian National Petroleum Company (NNPC) Limited, the downstream and upstream regulators, the Central Bank of Nigeria (CBN), and the chief economic adviser to the president.

Leave a Reply