The National Economic Council is to set up an expanded committee to look at the precess for subsidy removal including determining the exert time and measures to be taken to provide support for the poor and the vulnerable.
Minister of finance, Budget And National planning, Zainab Ahmed who briefed state house correspondents after the National Economic council meeting on Thursday says fuel subsidy will not be removed by before the end of president Mohammadu Buhari’s administration.
The council agreed that the timing for fuel subsidy removal should not be now but all preparation should continue in consultation with states and all other stakeholders including representatives of the incoming administration.
The finance minister, Zainab Ahmed says removal of fuel subsidy is inevitable but must be done in such a way that the impact will not adversely affect the lives of ordinary Nigerians.
The issue of the devastating flood that occurred in the country in 2022 and the need to support states and individuals affected was also discussed at the council meeting.
This month’s National Economic Council meeting is the last for the president Mahammadu Buhari’s led administration and members use the opportunity to hold a valedictory session for the vice president Yemi Osinbajo, the out going minister of finance, the secretary to the government of the federation and governors who have concluded their terms in office.