President Muhammadu Buhari has approved the removal of subsidy on Petrol, and the implementation has been slated to commence as soon as next week, with a formal announcement expected in days, according to at least two sources familiar with the development.
Revealed that President Muhammadu Buhari had a few days, formally approved the cancellation of the wasteful and fraudulent programme, which gulps billions of dollars monthly.
Sources in the Presidency and the Nigeria National Petroleum Company Ltd (NNPCL), confirmed the development to the THEWILL on Wednesday.
The Buhari administration had recently vowed to remove the controversial petrol subsidy before the end of the current government.
Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, however, attributed the delay in removal of the subsidy, as provided for in the Petroleum Industry Act (PIA) 2021, to the 2023 general election and the forthcoming national population census.
But the United states through the outgoing Ambassador to Nigeria, Mary Beth Leonard, had on Monday, charged President Buhari to complete the unfinished job of fuel subsidy removal before exiting office on May 29.
This the Ambassador said, will make less trouble for the incoming administration of Bola Ahmed Tinubu.
