Petrol subsidy removal: No conclusion yet on palliatives – FG

The Federal Government yesterday said no conclusion had been reached on how to lessen the likely impacts of the proposed petrol subsidy removal on citizens.  The Minister of State, Budget and National Planning, Clement Agba, told reporters after the Federal Executive Council meeting though a committee headed by Vice President Yemi Osinbajo had been working […]

The Federal Government yesterday said no conclusion had been reached on how to lessen the likely impacts of the proposed petrol subsidy removal on citizens. 

The Minister of State, Budget and National Planning, Clement Agba, told reporters after the Federal Executive Council meeting though a committee headed by Vice President Yemi Osinbajo had been working for about a year, nothing definite had been agreed upon.

He said the committee working with state governors could arrive at a common position on the matter soon.

According to him, there is no timeline for the Osinbajo’s committee to conclude the discussion which he said is ongoing.

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He recalled that in the 2022 to 2023 Medium-Term Expenditure Framework, a proposal of N3.3trn was made for fuel subsidy between January and June 2023.

“For over a year plus now, the Vice President, Yemi Osinbajo has been leading a committee working on this and the National Economic Council also has a committee that has also been working on this.

“So, the stage we’re in now is how to finalise the suggestions that have come out from both the federal government and the governors’ side. 

“Like you know, it’s something that is going to affect the entire nation.

“They’ll just have to ensure everyone is carried along, that is both the federal and subnational governments.”