NEC:Decision On Petrol Subsidy Removal Shelved

The National Economic Council (NEC),says decision on discontinuation of  petroleum subsidy in Nigeria would be reached in June when the provision for its payment in the 2022 budget is expected to expire

Governor of Nasarawa State, Abdulahi Sule, who disclosed this while briefing State House Correspondents on the outcome of the meeting, said it was necessary the controversial subsidy should be yanked off in June.

The NEC, through a committee it has set up on the issue, has been having a conversation on the matter, it was yet to take a stand on it,he said.

He added: “What you have to understand is that we didn’t make any presentation on this because there has not been a decision. But in reality, all of us Nigerians know that there is now the Petroleum Industry Act. And NNPC has now become a limited liability company. So, NNPC will run differently. So, if the minister of finance provides for six months, you probably can understand part of the reason for provision of six months before NNPC fully takes off and at that moment, that’s when decisions will be made.

“But I want to make the correction that it is not governors who are making recommendations. It is actually a NEC committee, you know, which comprises of all the other people that are looking at this and no decision has been made and probably by the time a decision will be made, you know, the Petroleum Industry  Act would have fully taken charge, and it will not require any recommendation from anybody.”