The Federal Government has formally backtracked on its earlier plans to remove subsidy on petroleum products by June 2022.
Minister of Finance, Budget and National Planning, Hajia Zainab Ahmad disclosed this Monday at a meeting held between representatives of the Federal Government and the leadership of the Senate at the National Assembly
Ahmad said the resolve to halt the removal of subsidy on premiun motor spirit (PMS) or petrol, followed government’s reappraisal of the policy and a discovery that it would not be appropriate at a time many Nigerians were already facing serious hardship owing to the down turn of the economy.
The meeting had in attendance, the President of the Senate, Ahmad Lawan, Minister of State Petroleum Resources, Chief Timipre Sylva and Group Managing Director, Nigeria National Petroleum Corporation (NNPC), Engr Mele Kyari amongst others.
