FG Proposes Extension Of Fuel Subsidy Removal By 18 Months, Seeks To Amend PIA

The Federal Government is proposing to extend its suspension of the removal of fuel subsidy by 18 months.

The Minister of State for Petroleum Resources, Mr Timipre Sylva, announced this on Tuesday while briefing State House correspondents in Abuja.

He disclosed that the government has concluded plans to approach the National Assembly to amend the Petroleum Industry Act (PIA).

Analysts see the development as yet another demonstration of government’s penchant for inconsistencies and policy summersaults.

While regarding the suspension of removal of subsidy as heavily politically motivated than economic, they argue Tha president should have taken this into consideration before rushing to sign the PIA.

According to them, the suspension is a negation of the spirit of the PIA which the government promised was going to implement it religiously.

For instance, President of the Nigerian Bar Association, Olumide Akpata, on Monday, said that the federal government’s decision to suspend fuel subsidy removal was linked to the 2023 general elections.

Speaking on Channels Television’s Politics Today, programme on Monday, Akpata said the decision to postpone the planned subsidy removal is a temporary solution due to the 2023 elections.

According to him, not suspending fuel subsidy removal would have been suicidal because election is just around the corner.

“The subsidy issue is a hot potato for any government, particularly, in this part of the world…can’t avoid it from legal perspective. Temporal solution. I don’t see issue coming up before elections. It’s not rocket signs, if leaders want the refineries to work, they will work,” Akpata said.