There’ll Be No Petrol, Electricity Susbsidy, FG Insists

Federal Government on Tuesday maintained that there is no going back on its decision to remove subsidy on Premium Motor Spirit (Petrol) and electricity.

Minister of Finance, Budget and National Planning, Zainab Ahmed who stated this, also noted that the government did not make any provision for the subsidy in the 2021 budget.

She made the statement during a virtual public presentation of the Breakdown and Highlights of 2021 Appropriation Act in Abuja.

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While answering a question on whether there would be a return to petrol subsidy following the reduction in petrol price about a month ago, Ahmed said, “The answer is a flat no.

“We are not bringing back fuel subsidy. We didn’t make provision for fuel subsidy in the budget. The impact of what was done was reducing some of the cost components that were within the template.

“And also related to it, on matters of electricity subsidies, no provisions have been made for subsidy for fuel and no provisions have been made for subsidy for electricity.”