The Minister of State for Petroleum Resources, Timipre Sylva says the Federal Government has ruled out the planned removal of fuel subsidy for now.
He stated this at a meeting of stakeholders in the oil and gas sector at the instance of the President of the Senate Ahmad Lawan on Monday at the National Assembly complex in Abuja.
Sylva said that the timing for removal of fuel subsidy is inappropriate.
Sylva who also said there was need to dialogue with the National Assembly noted that the issue of fuel subsidy was a legislative one since the 2022 Appropriation Act provides for subsidy up to June this year, implying that there would not be subsidy from July this year.
According to him the only option is for the National Assembly to revisit the Appropriation Act with the view to amending it to provide for subsidy beyond June 2022, adding that “law is not cast in iron”.
The President of the Senate , Ahmad Lawan earlier laid the foundation for the meeting when he recalled his meeting with President Muhammadu Buhari on the possible removal of petroleum subsidy.
Senator Lawan noted that the present administration believed that the issue of removal of subsidy should be handled with utmost care and stressed that sufficient planning needs to be done to provide the necessary paliatives.
Senator Lawan also disclosed that the shelving of fuel subsidy removal is not about the proposed protest by Labour unions but for the interest of ordinary Nigerians.
The President of the Senate however appealed to the organized Labour to shelve their planned protest.
By James itodo..