The National Economic Council, NEC, has suspended the planned removal of subsidy on petroleum products by the end of June shortly after President Muhammadu Buhari’s tenure expires.
This was disclosed by Minister of Finance, Budget and National Planning, Zainab Ahmed while briefing State House correspondents at the end of the NEC meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.
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.
While highlighting the need for more interface with the Nigeria Labour Congress and the petroleum marketers’ association, Ahmed explained that the decision for removal of subsidy would now be decided by the next Administration.
