Africa Business Radio

The Minister of Finance, Budget and Economic Planning, Zainab Ahmed, says that the Federal Government had postponed the planned removal of subsidies on petroleum products till further notice. The finance minister says the Federal Government initially had plans to remove subsidies on petroleum products from July this year. She says that was the reason adequate provision was made in the 2022 national budget for subsidy payment till June. She says the provision was made sequel to the passage of the Petroleum Industry Act which indicated that all petroleum products would be deregulated.