FEDERAL GOVERNMENT SAYS NO PLANS TO END FUEL SUBSIDY REGIME

The Federal Government has given the assurance that there
are no plans to remove fuel subsidy now just as queues
emerged in filling stations in some parts of the country.
Minister of Finance, Zainab Ahmed, made this disclosure on the
sidelines of the ongoing Spring Meeting of the World Bank in
Washington D.C.
It would be recalled that the International Monetary Fund, had
last week called on the Federal Government to remove fuel
subsidy, saying it was the right thing to do.

The Nigeria Union of Petroleum and Natural Gas Workers
and the Petroleum and Natural Gas Senior Staff Association
have described as poisonous the International Monetary Fund’s
advice to the Federal Government on fuel subsidy.
The two unions said the IMF’s advice had created panic in the
country, which had led to the hoarding of petroleum products.
The oil workers said stringent reforms such as removal of fuel
subsidy and increase in Value Added Tax would be “an attempt
to destabilise the nation.”

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