April 27, (THEWILL) – The National Economic Council (NEC) has suspended the planned removal of subsidy on petroleum products by the end of President Muhammadu Buhari’s administration.
Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed, disclosed this on Thursday, while briefing State House correspondents at the end of the NEC meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.
Ahmed said the NEC concluded in its meeting that it is not a favourable time for the action.
The Minister said the Council deliberated on the matter and resolved that it cannot be removed for now, adding that the existing Committee that has been discussing the fuel subsidy issue needed to be expanded to enable more input from concerned Nigerians.
She said there needed to be more interface with the Nigeria Labour Congress (NLC) and more engagement with the petroleum marketers’ association, among others.
Ahmed said the Council agreed on the need to continue the discussion on the matter and the necessary preparatory work in conjunction with states and representatives of the incoming administration.
