Buhari govt seeking budget amendment to retain fuel subsidy --Minister

The government says it has realised the timing of its planned removal of petrol subsidy is "problematic", and will worsen the suffering of Nigerians.The Nigerian government will retain fuel subsidy indefinitely and is working on amending the 2022 budget to provide funds for that purpose, the finance minister has said., said the government has realised the timing of its planned removal of petrol subsidy is “problematic”, and will worsen the suffering of Nigerians.

Also present were the Chief Executive Officer of the Nigerian Midstream and Downstream Regulatory Authourity, Farouk Ahmed, Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, and Commissioned Chief Executive Officer of the Nigerian Upstream Regulatory Commission, Gbenga Komolafe.

Mr Lawan, therefore, called on Labour unions such as the Nigerian Labour Congress and Trade Union to shelve the planned protest rallies, adding that the Federal Government has no plan of removing the petroleum subsidy now. “A lot of us in this administration believe that the issue of removal of subsidy should be handled with utmost care, especially that sufficient planning needs to be done.

“After this meeting, there will be other ones, all in search of ways and means of ensuring that the ordinary Nigerian does not suffer any hardship, that when the subsidy will be removed eventually, it would be at such a point that the hardship will be very minimal and taken care of by several programmes.

“We are supposed to come together and work assiduously to ensure that our country is stable, and our people enjoy the benefits of government programmes and projects, and that whatever decision would be taken will be in the best interest of our people and protecting the most vulnerable amongst us.” “Let me start by stating the fact that we did make a provision in the 2022 budget for fuel subsidy from January to June. And that suggests that from July there would be no fuel subsidy.

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