The Federal Government yesterday moved to clarify that the plan to end petrol subsidy by the end of June, 2023 is on course.
According to a statement made by Yunusa Tanko Abdullahi, Special Adviser, Media and Communications, to the Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed, the Buhari administration has simply expanded the subsidy removal committee, contrary to media reports.
While briefing journalists at the end of the National Economic Council (NEC) meeting on Thursday, the Minister stated that the decision on removal has been deferred to the incoming administration of Bola Tinubu.
The government in the statement said “it has not suspended the removal, but has rather expanded the subsidy removal committee to include teams from the incoming administration and the state governors”.
In her clarification, Mrs. Ahmed said that “NEC deliberated on the issue extensively and came to the conclusion that the subsidy must be removed as it is not sustainable, but there is a need for further consultations, especially the need to involve members of the incoming administration and representatives of the State governments.
“We agreed to form an expanded committee that will be looking at the process for the removal of the subsidy, including determining the exact time as well as the measures that need to be taken to provide support to the poor and the vulnerable. There is also the need to agree alternative measures that will be put in place to ensure that there is sufficient supply of petroleum products in the country.”