NEC To Decide On Fuel Subsidy Removal In June

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The National Economic Council, NEC, said yesterday that its decision on the removal of the subsidy on petroleum would be made in June when provision for its payment in the 2022 budget expires.

Fuel Subsidy in Nigeria

’s position came on a day former Head of State, General Abdulsalami Abubakar, retd, advised the Federal Government against the withdrawal of fuel subsidy, saying any increase in the pump price of petrol would push more Nigerians into poverty.

Governors, under the aegis of Nigeria Governor’s Forum, , had hours earlier in its meeting in Abuja denied being part of the process to remove and promised to engage the Nigerian Labour Congress, NLC, and its affiliates on the matter.

Recall that Labour had, less than 24 hours ago, alleged plots by some governors to scuttle the protest planned for next Thursday against the government’s attempt to remove fuel subsidy.

Minister of Finance, Budget and National Planning, Mrs. , had announced late last year that the Federal Government would remove subsidy in the second quarter of this year.

But former President of the Lagos Chamber of Commerce and Industry, LCCI, Mr Goodie Ibru, yesterday advised the government to remove subsidy, saying whatever funds gained could be used to subsidise education and health.

Rising from its first meeting for the year in Abuja yesterday, said though conversations on subsidy removal had been ongoing, it is yet to take a position on it.

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