Following the suspension of the planned removal of fuel subsidy by the Federal Government, the ruling All Progressives Congress (APC) has applauded the decision.
The development was disclosed by the Minister of Finance, Zainab Ahmed during a meeting with the Senate President, Ahmad Lawan and other principal officers of the Senate.
According to Ahmed, the Federal Government initially had plans to remove subsidy in July, after which they made provisions in the 2022 budget to cushion the effect but noted that the timing has become a huge challenge.
She further stated that the decision can not be taken until some steps are taken to protect the interest of Nigerians.
In a statement on Monday, APC Caretaker Committee spokesman, Sen. John James Akpanudoedehe, said the government took the decision in the interest of Nigerians.
The party commended President Buhari for always putting the welfare and well being of Nigerians first in implementing his programmes.
The statement reads: “The Federal Government took into consideration the fact that the removal of subsidy at this time will heighten inflation and cause undue hardship on the citizenry
“Programmes and policies of government are meant to benefit the people, adding that if the timing of the planned subsidy removal would cause hardship on citizens, then a review was necessary.
“We commend President Muhammadu Buhari for always putting the welfare and well being of Nigerians first as he has serially displayed in the implementation of programmes and policies of this administration.
“In line with the new Petroleum Industry Act (PIA), the Federal Government is already putting in place measures, particularly boosting our local refining capacities to reduce the country’s reliance on expensive import of refined petroleum products. This will in due course usher in the eventual and full deregulation of the country’s petroleum sector.
“Finally, the APC commends the cordial and healthy relations between the Executive and the 9th National Assembly which has ensured good governance.
“Nigerians have been the ultimate beneficiaries as displayed in the positive outcomes of the meeting between Minister of Finance, Budget and National Planning, Dr Zainab Ahmed and the Senate President, Ahmad Lawan on the suspension of the planned subsidy removal.”