The Federal Government has revealed plans to make additional provisions for fuel subsidy in the 2022 budget, Mrs Zainab Ahmed has said.

Ahmed, who is the Minister of Finance, Budget, and National Planning, disclosed this on Monday at a meeting with the President of the Senate, Ahmad Lawan, at the National Assembly Complex in Abuja.

Senator Lawan had convened the meeting, also attended by the Minister of State for Petroleum Resources, Timipre Sylva, and representatives of oil companies, amid the controversy over the removal of fuel subsidy by the government.

In her remarks, the finance minister explained that the government had to reconsider its decision on the planned removal of fuel subsidy after the 2022 budget was passed by the National Assembly.

She stated that fuel subsidy was provided for in the 2022 budget to run from January till June, but after consultations with stakeholders and in view of the high inflation and economic hardship, additional provisions would be made beyond the initial period.

According to Ahmed, it has become clear that the timing for the removal of fuel subsidy will be problematic as the country still experiences high inflation.

She admitted that removing fuel subsidy at this period would ultimately worsen the condition of Nigerians, especially those struggling to make ends meet.

Sylva, on his part, aligned himself with the position of the finance minister, stressing that removing fuel subsidy this period was bad timing, politically and economically.

In his response, the Senate President appealed to the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) to shelve their planned industrial action over subsidy removal as it has become unnecessary.

"Exciting news! TheNigeriaLawyer is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest legal insights!" Click here! ....................................................................................................................... Unauthorized use and/or duplication of this material and other digital content on this website, in whole or in part, without express and written permission from TheNigeriaLawyer, is strictly prohibited _________________________________________________________________ [Register Now] ILA Nigeria Branch Marks 10 Years With Infrastructure Financing As Theme For 7th Annual Conference The International Law Association - Nigeria Branch 7th annual conference on public-private partnerships for sustainable infrastructure financing, April 4-5 in Abuja. Details: https://ilanigeria.org.ng/conference _________________________________________________________________

NIALS' Compendia Series: Your One-Stop Solution For Navigating Nigerian Laws (2004-2023)

Email: info@nials.edu.ng, tugomak@yahoo.co.uk, Contact: For Inquiry and information, kindly contact, NIALS Director of Marketing: +2348074128732, +2348100363602.