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The government of President Muhammadu Buhari in Nigeria has shelved the planned removal of subsidy on petroleum products in the country.
This indication was given by the Minister of Finance, Budget and National Planning, Zainab Ahmed, who told members of the National Assembly on Monday that the move has been suspended till further notice.
It would be recalled that the subsidy removal was billed to come into effect at the end of June this year, with implications of increased transport fares and general inflation in the country.
Meanwhile, speaking on Channels TV programme, Nigeria’s Minister of State, Petroleum, Timipre Siva had also hinted on possible delay in the implementation of the removal of subsidy.
“I will tell you categorically that at this moment, the complete removal of subsidy is not on our plate at all. The President of the Federal Republic of Nigeria is not in support of removing the subsidy at this time,” Sylva said, adding that government was aware that the removal will have some impacts on the people.
