By Ayodele Oni
Nigerians are likely to be relieved with the news about the postponement of the removal of petroleum subsidy till another day.
The outgoing administration had planned to remove the subsidy on May, which may likely lead to increase in prices of petroleum products and other commodities.
However, the National Economic Council (NEC) which has been meeting in Abuja, announced the suspension of the planned removal of subsidy on petroleum products by the end of President Muhammadu Buhari’s administration.
The Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed disclosed, this on Thursday while briefing State House correspondents at the end of the NEC meeting.
The meeting was presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja, with state governors and other stakeholders in attendance.
According to the minister, the NEC concluded in its meeting that it is not a favourable time for the action.
She stated that the Council deliberated on the matter and resolved that it cannot be removed for now.
It equally agreed on the need to continue the discussion on the matter and the necessary preparatory work in conjunction with states and representatives of the incoming administration.
