Government To Suspend Removal Of Subsidy

By Uche Mbah

Government has indefinitely suspended the planned removal of subsidy with its attendant hike in fuel price, The Source has learnt.

There has been hues and cries following the announcement that subsidy payments will terminate in July, as marketers are lamenting on the toll on them.

But persons knowledgeable on the issue claimed there have been pressures from “powerful quarters” against the proposed deregulation.

The decision to put on hold the plan was confirmed by Zainab Ahmed, Minister of Finance, Budget, National Planning, during a meeting held at the National Assembly complex Monday in Abuja.

The meeting, which was convened by Ahmad Lawan, President of the Senate, had Timipre Sylva, Minister of State for Petroleum Resources, Mele Kyari, Group Managing Director, NNPC Limited, in attendance.

A few days ago, former Head of State, Abdulsalami Abubakar, said the removal of fuel subsidy will cause an unprecedented crisis in the country. The Nigerian Labour Congress, NLC, has also been preparing for a show down with the Federal Government.