Amidst speculations and reports on the removal of petrol subsidy this year, the Minister of Transportation, Hon. Chibuike Rotimi Amaechi, yesterday confirmed the removal of subsidy on petrol, saying it was not included in the 2016 budget.
He said this at the Business Eye Roundtable discussion in Lagos.
Amaechi, who was among the panelists, said this was part of the policies and steps taken by the federal government to stem the bleeding of the economy.
He said: “For the federal government, if you know the president, he doesn’t support borrowing but he has catapulted to borrowing. If you know the president, he doesn’t support removal of subsidies, we are not saying it but you know it is there.
“We are not saying oil subsidy has been removed, but check it in the budget; it is not there so where would he pay from? And if you know the president very well he would not spend anything outside the budget.”
The minister added: “I am one of the vocal ministers who can say it has been removed but I am just saying it is not in the budget.”
Amaechi’s statement came as a reaction to the Chief Executive Officer, RTC Advisory Services Limited, Mr. Opeyemi Agbaje who urged the federal government to put in the right polices which would tackle the economic deficits in the country.
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