Zainab Ahmed, minister of finance, budget and national planning, says the federal government has not suspended the plan to remove fuel subsidies.
The minister stated this in an interview with the Nigeria Television Authority (NTA).
She said fuel subsidy removal has not been suspended contrary to reports in the media saying FG has suspended action on the plan to remove subsidy on the premium motor spirit (PMS) arising from the National Economic Council (NEC) meeting, chaired by the Vice President on Thursday.
“The Council agreed that the timing for the removal of fuel subsidy should not be now but that we should continue with all of the preparatory works that need to be done. And that these preparatory works should be in consultation with the States and key stakeholders, including representatives of the incoming administration.
“The Council agreed that the fuel subsidy must be removed earlier rather than later because it is not sustainable. We cannot afford it anymore but we have to do it in such a way that the impact of the subsidy is not as much as possible mitigated on the lives of ordinary Nigerians, including that there is a sufficient supply of petroleum products in the country”, the minister said.
Also, the Federal Ministry of Finance on Friday in a statement said fuel subsidy removal has not been suspended.