The National Economic Council (NEC) has suspended the planned removal of subsidy on Premium Motor Spirit (PMS) during the tenure of President Muhammadu Buhari’s administration.
The Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed disclosed this while speaking with State House correspondents on Thursday at the end of the NEC meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.
She stated that the NEC concluded in its meeting that it is not a favourable time for the action.
According to her, the Council deliberated on the matter and resolved that it cannot be removed for now, but it equally agreed on the need to continue the discussion on the matter and the necessary preparatory work in conjunction with states and representatives of the incoming administration.
