By Our Reporter
Decision on the removal of subsidy on petroleum will be made in June when the provision for its payment in the 2022 budget expires. This was the position of the National Economic Council, (NEC), on Thursday
It said that though conservation on subsidy removal has been going on, it was yet to take a position on it.
The council chaired by Vice President Yemi Osinbajo met at the Conference Hall, Presidential villa, Abuja, Thursday, with the declaration that since the Nigerian National Petroleum Company, NNPC, Limited has become a limited liability company, it must be run differently
Fielding questions from State House correspondents on the outcome of the meeting, the governor of Nasarawa state, Abdulahi Sule said it was understandable that the provision for the payment of the subsidy is made in the 2022 budget only until June.
Governor Sule stated that any decision on the removal of subsidy will be taken after the budget provision runs its course in June.
Also speaking while responding to questions, Governor Obaseki pointed out that Premium Motor Spirit (PMS), which sells for N162-165 per liter in Nigeria, sells a hundred percent higher in other countries.
He noted that the federal government was spending about N2 trillion on petroleum subsidy, an amount, he said could have been used for other purposes.
According to him, the NEC, therefore, wondered whether that should be allowed to continue in a situation where, according to him, only two thirds of the states of the federation consume the subsidy.
