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Tinubu To Take Decision On Subsidy Removal

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The All Progressives Congress Presidential (APC) Campaign Council has said that president-elect, Bola Tinubu, will decide when fuel subsidy will be removed.

President Muhammadu Buhari’s administration has said the subsidy policy would end by June when the budget for the initiative would lapse, the Chief Spokesperson for the All Progressives Congress PCC, Festus Keyamo, on Sunday, noted that the next government would determine the terminal date for the subsidy regime.

There has been apprehension over the planned removal of subsidy with marketers and other petroleum stakeholders projecting that the development may push fuel prices to N750 per litre.

Despite the anxiety over the issue, the Petroleum and Natural Gas Senior Staff Association of Nigeria last week called for subsidy removal.

PENGASSAN’s President, Festus Osifo, who said this at the National Executive Council meeting of the association in Abuja, implored the government to ensure the speedy rehabilitation of Nigeria’s refineries, stressing that this would help ease the hardship that could arise from the halt of fuel subsidy.

But the Nigeria Labour Congress has vowed to resist the plan, insisting that the refineries must be functional before the subsidy can be tampered with.

The Nigerian National Petroleum Company Limited recently said the country was spending over N400bn monthly on petroleum subsidy which it argued is largely unsustainable.


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