The Federal Government maintains that the days of fuel subsidies are past.
This was stated in response to a leaked draft report of the Accelerated Stabilisation and Advancement Plan (ASAP), which was given to President Tinubu by Wale Edun, the finance minister, on Tuesday.
TimesNow.com.ng earlier reported that the federal government has finally acknowledged that Nigeria will spend up to N5.4 trillion on petrol subsidy in 2024 based on a presentation by the Finance Minister.
Similarly, it was reported that the country may have started a plan to stop paying import tariffs on medications, core foods, and other necessities for six months, a likely attempt to control inflation.
According to a statement shared by Bayo Onanuga, special adviser to the president on information and strategy on X, the first document titled “Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024” is being distributed under the false impression that President Bola Ahmed Tinubu has signed it as an executive order.
The other document, titled “Accelerated Stabilization and Advancement Plan (ASAP),” is a 65-page draft document that offers recommendations for enhancing the Nigerian economy. On Tuesday, a copy of the draft was given to President Tinubu.”
The ASAP, which aims to overcome significant obstacles to reform measures and promote growth in many economic sectors, revealed that fuel subsidies will cost an estimated N5.4 trillion in 2024, N1.8 trillion higher than in 2023.
FG requested that the media or the general public ignore the two documents.
It emphasised that the documents were not official, sanctioned documents from the Nigerian Federal Government.
The highest government echelon is still reviewing each of the policy recommendations. In fact, one had a “draft” printed quite clearly on it.
It assured the public that the official position on the papers would be made available after thorough examinations and approvals were finished.
According to the coordinating minister of the economy, Wale Edun said:
TimesNow.com.ng reported that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has ordered all filling stations across the country to commence the sale of Compressed Natural Gas (CNG).
Engr Farouk Ahmed, the chief executive of NMDPRA, disclosed this during a meeting in Abuja. He said it is now mandatory for filling stations to increase CNG accessibility for consumers.
CNG is a fuel gas under pressure that remains clear, odourless and non-corrosive, an alternative to petrol.
Source: TimesNow.com.ng
