FG suspends removal of fuel subsidy

In the face of mounting opposition, the Federal Government has shelved the removal of subsidy on petrol.

The Muhammadu Buhari-led administration made the disclosure on Monday during a stakeholders’ meeting held with the Senate President, Dr. Ahmad Lawan.

Minister of State for Petroleum Resources, Timipre Sylva, disclosed that President Buhari is against subsidy removal.

“I will tell you categorically that at this moment, the complete removal of subsidy is not on our plate at all.

“The President of the Federal Republic of Nigeria is not in support of removing subsidy at this time,” Sylva said.

Meanwhile, the All Progressives Congress (APC) has lauded the Federal Government’s suspension of the planned removal of subsidy on petroleum products.

National Secretary, APC Caretaker/Extraordinary Convention Planning Committee (CECPC), Dr. John James Akpanudoedehe, stated that the Federal Government took into consideration the fact that the removal of subsidy at this time will heighten inflation and cause undue hardship on the citizenry.

“Programmes and policies of government are meant to benefit the people. So, if the timing of the planned subsidy removal would cause hardship on citizens, then a review was necessary. We commend President Muhammadu Buhari for always putting the welfare and well being of Nigerians first as he has serially displayed in the implementation of programmes and policies of this administration.

“In line with the new Petroleum Industry Act (PIA), the Federal Government is already putting in place measures, particularly boosting our local refining capacities to reduce the country’s reliance on expensive import of refined petroleum products. This will in due course usher in the eventual and full deregulation of the country’s petroleum sector.

“Finally, the APC commends the cordial and healthy relations between the Executive and the 9th National Assembly which has ensured good governance. Nigerians have been the ultimate beneficiaries as displayed in the positive outcomes of the meeting between Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed and the Senate President, Ahmad Lawan on the suspension of the planned subsidy removal,” Akpanudoedehe said.

Details later….