Fuel Subsidy truly gone – FG reaffirms, urges Nigerians to ignore viral documents

The Nigeria Federal Government has insisted that the fuel subsidy regime has truly ended.

This was in reaction to a leaked draft copy report of two fiscal policy documents.

These documents titled “Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024”, and the “Accelerated Stabilization and Advancement Plan (ASAP)” were reportedly presented to President Tinubu by the finance minister, Wale Edun, on Tuesday, June 4.

However, a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Thursday, 6th of June, 2024, reads:

“It is important to understand that policymaking is an iterative process involving multiple drafts and discussions before any document is finalised.

“We assure the public that the official position on the documents will be made available after comprehensive reviews and approvals are completed.

“The government wants to restate that its position on fuel subsidy has not changed from what President Bola Ahmed Tinubu declared on 29 May 2023. The fuel subsidy regime has ended. There is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed.

“The Federal Government is committed to mitigating the effects of this removal and easing the cost of living pressures on Nigerians.

“Our strategy focuses on addressing key factors such as food inflation, which is significantly impacted by transport costs. With the implementation of our CNG initiative, which aims to displace high PMS and AGO costs, we expect to further reduce these costs.

“Our commitment to ending unproductive subsidies is steadfast, as is our dedication to supporting our most vulnerable populations.” [CONTINUE READING HERE]>>>>>