Petrol subsidy can’t exceed June – NEC

The National Economic Council (NEC) has insinuated that petroleum subsidy will be over in June.

The Governor of Nasarawa State, Abdullahi Sule told reporters in Abuja after an NEC meeting that the 2022 budget only provides for subsidy up till June.

According to him, the Nigerian National Petroleum Corporation (NNPC) Limited decide on what to do next.

Former Head of State Gen. Abdulsalami Abubakar while working at another forum in Abuja, warned against the removal of the petrol subsidy, saying that it would push more Nigerians into poverty.

The Organised Labour also maintained that its proposed protest against subsidy removal would go on as scheduled on January 27.

Sule explained that governors who are members of the Vice-President Yemi Osinbajo-led NEC have no role in determining the prices of petroleum products.

He said: “If the Minister of Finance (Zainab Ahmed) provides a subsidy for six months, you probably can understand part of the reasons for the provision.

“When the NNPC Limited fully takes off, it is at that moment that decisions on subsidy removal will be made.

“I want to correct that it is not governors who are making recommendations. It is an NEC committee that comprises all the others.

“Already, the Petroleum Industry Act has fully taken charge, and it will not require any recommendation from anybody.”

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