The National Economic Council, NEC, has revealed that its decision on the removal of the subsidy on petroleum would be made in June when provision for its payment in the 2022 budget expires.
NEC’s position came on a day former Head of State, General Abdulsalami Abubakar rtd, advised the Federal Government against withdrawal of fuel subsidy, saying any increase in the pump price of petrol would push more Nigerians into poverty.
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, had announced late last year that the Federal Government would remove subsidy in the second quarter of this year.
Rising from its first meeting for the year in Abuja yesterday, NEC said though conversations on subsidy removal had been ongoing, it is yet to take a position on it.
The council, chaired by Vice President Yemi Osinbajo, is composed of governors of the 36 states of the federation, the Central Bank Governor and some Federal Government officials and ministers.
Fielding questions from State House correspondents on the outcome of the meeting held at the Conference Hall, Presidential Villa, Abuja, Nasarawa State Governor Abdullahi Sule, said it was understandable that the provision for payment of subsidy was made in the 2022 budget only until June.
