• About
  • Advertise
  • Privacy & Policy
  • Contact
Metro Network News
Advertisement
  • Home
  • News
  • Politics
  • Business News
  • Lifestyle
  • Technology
  • Entertainments
  • Daily News
No Result
View All Result
  • Home
  • News
  • Politics
  • Business News
  • Lifestyle
  • Technology
  • Entertainments
  • Daily News
No Result
View All Result
Metro Network News
No Result
View All Result
Home News Daily News

FG Suspends Planned Petrol Subsidy Removal

The Federal Government has suspended the planned petrol subsidy removal. 

metronetworknews by metronetworknews
January 24, 2022
in Daily News
0 0
0
More Hardship For Nigerians As Govs’ Propose N380/Litre For Petrol, FG Rejects
0
SHARES
39
VIEWS
Share on FacebookShare on WhatsApp


The Federal Government has suspended the planned petrol subsidy removal. 

Both  the Minister of State for Petroleum, Timipre Silva and the Minister of Finance, Budget and National Planning, Zainab Ahmed made the disclosure at a session with the leadership of the Senate, on Monday.


It would be recalled that the ad-hoc committee of the National Economic Council (NEC) had recently recommended that the planned subsidy removal should take effect from next month.

The price of petrol was expected to increase from N165 per litre to N302 following the recommendation. 

The Nigerian Labour Congress had threatened to embark on a nationwide protest rallies from January 27, 2022, if the federal Government goes ahead to increase the price of petrol.

Meanwhile, the All Progressives Congress (APC) has commended the federal government for suspending the proposed fuel subsidy removal.


In a statement issued and signed by the National Secretary of the APC Caretaker/ Extraodinary Convention Planning Committee, Senator John James Akpanudoedehe, the party stated that  the action of the Buhari’s administration was commendable, noting that it was meant to save Nigerians unnecessary economic agony.


The statement read in part: “The All Progressives Congress (APC) welcomes the Federal Government’s suspension of the planned removal of subsidy on petroleum products”.


“Commendably, the Federal Government took into consideration the fact that the removal of subsidy at this time will heighten inflation and cause undue hardship on the citizenry”.


“Programmes and policies of government are meant to benefit the people. So if the timing of the planned subsidy removal would cause hardship on citizens, then a review was necessary”.

“We commend President Muhammadu Buhari for always putting the welfare and well being of Nigerians first as he has serially displayed in the implementation of programmes and policies of this administration”.

“In line with the new Petroleum Industry Act (PIA), the Federal Government is already putting in place measures, particulary boosting our local refining capacities to reduce the country’s reliance on expensive import of refined petroleum products. This will in due course, usher in the eventual and full deregulation of the country’s petroleum sector”.


“Finally, the APC commends the cordial and healthy relations between the Executive and the 9th National Assembly which has ensured good governance. Nigerians have been the ultimate beneficiaries as displayed in the positive outcomes of the meeting between Minister of Finance, Budget and National Planning, Dr Zainab Ahmed and the Senate President, Ahmad Lawan on the suspension of the planned subsidy removal”.

metronetworknews

metronetworknews

  • Trending
  • Comments
  • Latest
Rivers Guber poll: Hausa community seeks collaboration with Igbo community to oust Wike and Sim Fubara

Rivers Guber poll: Hausa community seeks collaboration with Igbo community to oust Wike and Sim Fubara

March 7, 2023
Prophetess Worleru Is Dead

UNIPORT Professor Caught Naked Making Libation On Road At Midnight

June 7, 2022
Home

Sponsored: NIPR-UNIPORT holds special conference/workshop

July 16, 2023

Peter Obi Jets Off To Germany To Address Nigerians In Diaspora

August 25, 2022
Stakeholders endorse FG’s drive to transit into gas economy

Stakeholders endorse FG’s drive to transit into gas economy

0
Again, Buhari to travel to London for medical checkup

Again, Buhari to travel to London for medical checkup

0
COVID-19: World health bodies launch COVID-19 vaccine platform

COVID-19: World health bodies launch COVID-19 vaccine platform

0
John McAfee: Anti-virus creator found dead in a prison cell

John McAfee: Anti-virus creator found dead in a prison cell

0
Presidency reacts to comments by VP Shettima at Adoke’s book launch

Presidency reacts to comments by VP Shettima at Adoke’s book launch

July 11, 2025
Rivers people urged to join protest against fulani herdsmen activities in Ogoniland

Rivers Emergency Rule: Group hails Vice President Shettima for accepting Tinubu goofed

July 11, 2025
Federalist Majority responds to Gov. Radda’s question on what ADC coalition will do differently

Federalist Majority responds to Gov. Radda’s question on what ADC coalition will do differently

July 11, 2025
‘Atiku didn’t dump PDP’ – Eze replies Bode George

‘Atiku didn’t dump PDP’ – Eze replies Bode George

July 10, 2025

Recent News

Presidency reacts to comments by VP Shettima at Adoke’s book launch

Presidency reacts to comments by VP Shettima at Adoke’s book launch

July 11, 2025
Rivers people urged to join protest against fulani herdsmen activities in Ogoniland

Rivers Emergency Rule: Group hails Vice President Shettima for accepting Tinubu goofed

July 11, 2025
Federalist Majority responds to Gov. Radda’s question on what ADC coalition will do differently

Federalist Majority responds to Gov. Radda’s question on what ADC coalition will do differently

July 11, 2025
‘Atiku didn’t dump PDP’ – Eze replies Bode George

‘Atiku didn’t dump PDP’ – Eze replies Bode George

July 10, 2025
Metro Network News

Metro Network News is a trusted news source and leader in providing real-time and latest breaking news on business, sports, world and entertainment with exclusive Opinions and Editorials.

Follow Us

Browse by Category

  • Advertorial
  • Africa
  • Agriculture
  • Agriculture
  • Analysis
  • Arts & Culture
  • Arts & Culture
  • Bitcoin
  • Business News
  • Daily News
  • Economy
  • Editorial
  • Education
  • Education
  • Entertainment
  • Environment
  • Environment
  • Foreign
  • Health
  • interview
  • Judiciary
  • Lifestyle
  • Metro TV
  • News
  • News features
  • News features
  • Opinion
  • Personality Sketch
  • Photonews
  • Photonews
  • Politics
  • Religion
  • Sponsored
  • Sport News
  • Sports
  • Startup
  • Technology
  • Uncategorized

Recent News

Presidency reacts to comments by VP Shettima at Adoke’s book launch

Presidency reacts to comments by VP Shettima at Adoke’s book launch

July 11, 2025
Rivers people urged to join protest against fulani herdsmen activities in Ogoniland

Rivers Emergency Rule: Group hails Vice President Shettima for accepting Tinubu goofed

July 11, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2021 Metro Network News - Trusted News Source Designed by Strategic Hub.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
  • Politics
  • Business News
  • Lifestyle
  • Technology
  • Entertainments
  • Daily News

© 2021 Metro Network News - Trusted News Source Designed by Strategic Hub.