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Buhari’s government makes U-turn, suspends plan to remove fuel subsidy

The Federal Government under President Muhammadu Buhari has suspended plans to remove fuel subsidy by June this year.

Minister of Finance, Budget and National Planning, Ahmed Zaniab gave the indication on Thursday, April 27, 2023, shortly after the National Economic Council, NEC, meeting, chaired by Vice President, Yemi Osinbajo.

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She said the NEC, which comprises State Governors deliberated on the issue extensively and came to the conclusion that it will not be wise to remove subsidy as soon as the new administration is trying to settle down to governance.

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She also noted that the existing committee that has been discussing the fuel subsidy issue needed to be expanded to enable more input from concerned Nigerians.

She specifically said there needed to be more interface with the Nigeria Labour Congress, NLC, and more engagement with the petroleum marketers’ association, among others.


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