File: Queues at a filling station in Ogba, Lagos. PHOTO: Akeem Salau.
Johnbosco Agbakwuru, Abuja
The National Economic Council, NEC, has suspended the deliberate removal of subsidy on petroleum merchandise by the tip of President Muhammadu Buhari’s administration.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed disclosed this whereas briefing State House correspondents on the finish of the NEC assembly presided over by Vice President Yemi Osinbajo on the Presidential Villa, Abuja.
She defined that the removal of the subsidy will seemingly take impact in June as a result of the Petroleum Industry Act, PIA and the 2023 finances supplied subsidy until June, therefore any delay might require the modification of the PIA and the finances provision.
She, nevertheless, mentioned that there was no deadline given for the subsidy removal and that the incoming administration will take determination on when doable to do this.
Details latter
