The Independent Petroleum Marketers Association of Nigeria (IPMAN) had kicked against subsidy removal, stressing that the move should be suspended, because the President Muhammadu Buhari administration did not provide the required factors for subsidy removal.
The Nigerian government on Thursday suspended its plans to remove fuel subsidy on the petroleum products by the end of President Muhammadu Buhari’s administration.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) had kicked against subsidy removal, stressing that the move should be suspended, because the President Muhammadu Buhari administration did not provide the required factors for subsidy removal.
However, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, while briefing State House correspondents at the end of the NEC meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja, confirmed the removal on Thursday.
According to the minister, the NEC concluded in its meeting that it was not a favourable time for such action.
She stated that the council deliberated on the matter and resolved that the subsidy could not be removed for now.
The council 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.
Also, northern youths under the aegis of the Northern Youth Council of Nigeria (NYCN) had vowed to stop the fuel subsidy removal by the President Muhammadu Buhari-led Nigerian government.
The Northern youths, while threatening to resist the proposed fuel subsidy removal by all means, had expressed concern over the potential impact of fuel subsidy removal on “already struggling economy and the Nigerian people.”