Energy
FG set to begin gradual removal of petrol subsidy from April
The Federal Government may begin a gradual removal of the petrol subsidy from April 2023, about three months ahead of the initial plan to effect a complete stop to the expenditure head.
Mrs Zainab Ahmed, Minister of Finance, Budget and National Planning, who dropped this hint on Tuesday during an interview with ARISE TV on the sidelines of the World Economic Forum in Davos, Switzerland, also said the subsidy removal appears to be the position of all contestants to the leadership of the country in their political campaigns for next month’s general elections.
She said: “What will be safer is for the current administration to, maybe at the beginning of the second quarter, start removing the fuel subsidy, because it’s more expedient if you remove it gradually than to wait and move it all in one big swoop”.
After an 18-month extension, the Federal Government plans to spend N3.35 trillion on petrol subsidies from January till June 2023.
-
Football7 days agoUEFA threatens FIFA World Cup boycott over proposed private investment plan
-
Business5 days agoInformation Minister, VON DG to lead ARCON’s 2026 Advertising Industry Colloquium
-
Education3 days agoUniversity of Ibadan releases 2026/2027 post-UTME screening results
-
Business6 days agoCooking gas dealers slash prices amid intensifying market competition
-
Aviation5 days agoCanada issues 10 key tips to help immigration applicants avoid processing delays
-
Business3 days agoBreaking: NNPCL reduces pump price of petrol as competition intensifies
-
Energy7 days agoDangote Refinery offers fresh hope for Nigeria’s industrial transformation
-
Football3 days agoUnpaid £185m Club World Cup fund sparks fresh FIFA controversy