The Minister of Finance, Hajia Zainab has assured Nigerians that the Federal government will not be removing the fuel subsidy regime until it put all machinery in place to cushion the effect of its removal on the vulnerable citizens in the country.
The Minister made this known during a visit to the Senate Presiden, Ahmed Lawan ahead of the planned nationwide strike by the Nigeria Labour Congress and the Trade Union Congress.
According to the Minister, provisions were made in the 2022 budget on the fuel subsidy removal but after the budget was passed, consultations were made with stakeholders and it was discovered that there is still high inflation in the country.
She equally noted that modalities will be put in place to ensure the effects of the removal are lessened, noting that, there would be a rehabilitation of the whole refinery in the country that will ensure refining of products locally.
She, therefore, said that the possible date for the removal of the fuel subsidy would be June 2022.
According to the minister, the discussion is ongoing between labor unions to ensure the removal is done gradually in such a manner that it doesn’t affect the citizens.
Senate President Ahmed Lawan expressed concern over the issue of the subsidy removal especially as it affects the ordinary citizens.
He said, “the issue of subsidy removal should be handled with utmost care. This must involve proper planning, and appropriate timing such that the impact & consequences will not add to the hardship being faced by citizens”.
” Make no mistake when the Govt says this is not the time for the removal, because subsidy has been abused and we must find a way to handle it so as to cushion the effect; so that Nigerians do not suffer when it’s eventually removed”.
The Senate President also expressed concern about the planned strike by the Labour and Trade union Congresses and appealed to them to sheath their sword as the government is working assiduously to ensure that citizens are taken care of.
“We are going to work together so that our people do not suffer but benefit”, he added.
Also, the Minister of State for Petroleum, Timipreye Sylva said the legislature should put in place laws that will ensure smooth removal of the fuel subsidy regime.
