Economic Council Says Tinubu, Not Buhari, Will Decide On Petrol Subsidy Removal

The National Economic Council (NEC) has resolved to leave the decision on when to end subsidy on petrol for the incoming Tinubu administration.

The council during its meeting presided over by Vice President Yemi Osinbajo, suspended the decision of the Buhari administration, to remove all the subsidy on the product at the end of its tenure on May 29.

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Petrol Subsidy Removal Will Not Cause Huge Inflation, Says Presidency

Finance Minister, Zainab Ahmed, addressing the state house correspondents at the end of the meeting held at the Presidential Villa, Abuja, on Thursday, agreed that the subsidy was no longer sustainable.

But the council, according to her, said President-Elect Bola Tinubu would decide the deadline to remove it.

The minister, however said the council resolved that the ongoing preparatory work on its removal should continue in consultation with state governments and key stakeholders, including the incoming administration.