The Nigerian government has expressed its commitment to removing fuel subsidy but is seeking ways to do it without disrupting the livelihoods of average Nigerians. This was disclosed by the Permanent Secretary of the Ministry of Petroleum Resources, Amb. Gabriel Aduda, while speaking to journalists at the Nigeria International Energy Summit.
Aduda emphasized that although subsidy removal has been in focus for some time, President Buhari, who is also the Minister of Petroleum Resources, is taking it very seriously and is considering all factors that could impact the lives of Nigerians.
The government is looking at how best to achieve subsidy removal without disrupting the entire ecosystem of livelihood in Nigeria. Aduda stated that this was the government’s responsibility and it would ensure that buffers were put in place and forex made available for imports.
The government will also ensure that supply is available for a minimum of six months to minimize disruption.
The Permanent Secretary noted that there were quite a number of factors to look at, but the government was committed to subsidy removal. He further stated that the recommendations of the NEIS would form part of policy implementation and that the 2024 NIES would begin with a session on the fallout of suggestions made in 2023, as agreed in the communique.
