FG to Remove Fuel Subsidy in June 2023, one Month After Buhari’s Exit
The Federal Government has said it will end the payment of subsidy on Premium Motor Spirit (PMS) by June 2023. The Minister of Finance, Budget and National Planning, Zainab Ahmed disclosed this on Thursday, August 18, 2022, while asking the the House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to 2022. President Muhammadu Buhari who has been in office since 2015 will be finishing his tenure by May 29, 2023. The new date means that the petrol subsidy will end one month after Buhari’s exit. Addressing the House of Representatives’ ad hoc committee, the finance minister said the government had planned to make subsidy payments for only half of next year, as contained in the 2023-2025 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP). Ahmed further disclosed that President Muhammadu Buhari transmitted the MTEF/FSP to the leadership of both chambers of the National Assembly for consideration after it was approved by...