National Economic Council (NEC) has suspended the planned removal of subsidy on petroleum products by the end of President Muhammadu Buhari’s administration.
The Minister of Finance, Budget, and National Planning, Zainab Ahmed disclosed at the end of the NEC meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja on Thursday.
According to Ahmed, the NEC concluded in its meeting that it is not a favourable time for the action.
She noted that the Council deliberated on the matter and resolved that it cannot be removed for now.
The Minister noted that the NEC equally agreed on the need to continue the discussion on the matter and the necessary preparatory work in conjunction with states and representatives of the incoming administration.
