Proposed Subsidy Removal: Nigeria Yet To Come Up With Palliatives, Says Deputy Budget Minister

Nigeria’s Federal Government has disclosed that no conclusion has been reached on how to mitigate the effect of the proposed fuel subsidy removal on the citizenry.

This is  just as the Federal Government is billed to do away with petroleum products subsidy from the middle of 2023.

Minister of State for Budget and National Planning, Clement Agba, who made this revelation while speaking with newsmen on Wednesday at the end of the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the State House, Abuja, said even though a committee headed by Vice President Yemi Osinbajo has been working for about a year, nothing definite has been agreed upon.

Agba, who was responding to questions on the the consequences of the subsidy removal without necessary palliatives to lesson the impact, was hopeful that the committee working with state governors can arrive a common position on the matter.

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

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

Said he: “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 that we are in now is how to finalize the suggestions that have come out from both the federal government and the governors side. 

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

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

Details Later…

Deji Elumoye in Abuja

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