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Nigerian Govt Suspends Plan to Scrap Fuel Subsidy

The government has said that it will retain the fuel subsidy indefinitely and will work on amending the 2022 budget to provide funds for that purpose. The Minister of Finance, Zainab Ahmed, said that the government has realized the timing of its planned removal of the petrol subsidy is "problematic", and will worsen the suffering of Nigerians.

In the 2022 budget signed into law by President Muhammadu Buhari last year, the provision of the petrol subsidy was till June 30, but labour unions said the fuel subsidy removal at this period of high inflation would be resisted. Analysts have described the state of the economy as fragile and weak, adding that this could be worsened by payment of subsidy claims, especially given the malpractices surrounding previous disbursements.

Some Nigerians have called for the removal of the subsidy, to enable the government to invest the funds into other developmental projects. Others have however condemned calls for its removal, citing it as perhaps one of the most significant "benefits" the masses enjoy from the government.

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