Adebayo Reacts As FG Suspends Fuel Subsidy Removal

The presidential candidate of the Social Democratic Party (SDP), Adewole Adebayo, has reacted to the suspension of fuel subsidy removal by the federal government.

Naija News earlier reported that the National Economic Council (NEC) headed by Vice President Yemi Osinbajo on Thursday recommended the suspension of petrol subsidy removal until further notice.

The Minister of Finance, Budget, and National Planning, Zainab Ahmed, made this known while speaking to journalists after the Valedictory NEC meeting at the Presidential Villa, Abuja.

Ahmed said all preparatory plans with various segments of government, including States and the incoming administration should be intensified, adding that the subsidy regime must be removed eventually as it is not sustainable.

She added that the Council agreed on the need for continued discussions on the issue together with states and representatives of the incoming administration, which requires more preparatory work.

Reacting to the development in a tweet via his Twitter handle on Thursday, Adebayo commended the suspension of the fuel subsidy removal by June 2023.

The lawyer added that the government must cut subsidy waste and corruption without raising fuel and factor costs.

He wrote: “Good that FGN has jettisoned the inchoate idea of fuel ‘subsidy’ removal by June 2023 when @MBuhari will be in Daura and
@officialABAT will just be familiarizing with Aso Villa. We must cut subsidy waste and corruption without raising fuel and factor costs. IMF can keep its $800m.”

Good that FGN has jettisoned the inchoate idea of fuel 'subsidy' removal by June 2023 when @MBuhari will be in Daura and @officialABAT will just be familiarizing with Aso Villa. We must cut subsidy waste and corruption without raising fuel and factor costs. IMF can keep its $800m

— Adewole Adebayo ESQ (@Pres_Adebayo) April 27, 2023