Deadline for petrol subsidy removal may be extended – NEC

The National Economic Council presided over by Vice-President Yemi Osinbajo, has agreed that the timing for the removal of petrol subsidy should not be now but that all of the preparatory works should continue in consultation with the states and other key stakeholders, including representatives of the incoming administration.

Minister of Finance, Budget and National Planning, Zainab Ahmed, said the “council agreed that the fuel subsidy must be removed earlier rather than later because it is not sustainable.”

She said the subsidy removal has to be done in such a way that the impact, as much as possible, “is mitigated on the lives of ordinary Nigerians.”