FG succumbs to pressure, suspends planned petrol subsidy removal

By allcitynews.ng

Federal Government has succumbed to labour threat and public outcry, suspended the planned subsidy removal.

FG through the Minister of Finance, Budget and National Planning, Zainab Ahmed, today, Monday 24 January 2022 made the announcement.

The Minister while speaking during a meeting held at the National Assembly in Abuja said the suspension is till further notice.

Earlier, President Muhammadu Buhari has already kicked against the planned removal.

According to the Minister of State for Petroleum, Timipre Sylva, said the President, Muhammadu Buhari is not in support of the removal of subsidy from Premium Motor Spirit, popularly known as petrol.

Sylva said this when he appeared on Channels Television’s Newsnight programme.

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

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

The Minister stated that part of the reason why the Federal Government is not thinking about removing fuel subsidy is because of the impact it will have on Nigerians.