The Federal Government has said that it does not have any plan of rescinding its policy on subsidy removal on Premium Motor Spirit (PMS), popularly known as petrol. The Minister of Finance, Budget and National Planning, Zainab Ahmed disclosed this on Tuesday during a virtual meeting in Abuja.

She also stated that the government did not make any provision for electricity subsidy in 2021 and would not subsidise power. Responding to a question on whether the reduction in petrol price about a month ago had led to the return of subsidy, Ahmed said, “The answer is a flat no.

“We are not bringing back fuel subsidy. We didn’t make provision for fuel subsidy in the budget. The impact of what was done was reducing some of the cost components that were within the template. “And also related to it, on matters of electricity subsidies, no provisions have been made for subsidy for fuel and no provisions have been made for subsidy for electricity.”

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Source: OrientEnergyReview