NEC: Final Decision on Petrol Subsidy will Be Taken in June


Deji Elumoye in Abuja

The National Economic Council (NEC) has disclosed that a final decision on the removal of subsidy on petroleum will be taken in June when the provision for its payment in the 2022 budget would have lapsed.

The Council chaired by Vice-President Yemi Osinbajo held its maiden meeting in 2022 at the State House, Abuja on Thursday.

Answering reporters’ questions at the end of the monthly meeting attended by all the 36 state governors and other top government officials, Nasarawa State Governor, Abdulahi Sule, who spoke on behalf of NEC, said it was understandable that provision for the payment of the subsidy in the 2022 Appropriation Act will end by June.

According to him, any decision on the removal of subsidy will be taken after the budget provision runs its course in June.

He stressed that even though NEC had before now set up a committee on the issue of fuel subsidy, it was yet to take a position on it.

Details later…