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Fuel Subsidy: FG, States yet to harmonise ahead of June deadline

Fuel Nozzle

The Federal Government, on Wednesday, said it is yet to harmonise efforts with states to set up palliative measures ahead of the June 2023 deadline for the discontinuation of petroleum subsidies.

But the government said that all the relevant committees on the matter would soon conclude discussions with key stakeholders as the administration winds down.

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Minister of State for Budget and National Planning, Clem Agba, disclosed while briefing State House correspondents at the end of the weekly Federal Executive Council, FEC, meeting Presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja.

The Minister said a committee led by the Vice President, Prof Yemi Osinbajo, and the National Economic Council comprising State Governors have been working to resolve the issue for over 12 months now, although he said the committee is yet to harmonise within the period.

Asked about the reasons for the delays, Agba explained that the situation requires time as it has far-reaching consequences for the nation, therefore, “they want to ensure that everyone is carried along.”

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Meanwhile, the Federal Executive Council, on Wednesday, endorsed the Nigeria Agenda 2050, a plan aimed at increasing real GDP growth by seven per cent, creating 165 million new jobs and reducing the number of people living in poverty to 2.1 million in 2050, from the 83 million people estimated in 2020.

This comes four weeks after the National Economic Council endorsed the Agenda and 29 months after President Buhari inaugurated the National Steering Committee for the preparation of the Medium-Term National Development Plan 2021 – 2025 and Nigeria Agenda 2050.

Its overarching goal is to take Nigeria through to an Upper Middle-Income Country and subsequently to the status of a High-Income country by 2050.

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