Barring any last minute changes, President Muhammadu Buhari will within the next few days officially announce the removal of subsidies in prices of petroleum products, SIGNAL can authoritatively report.
Presidency sources informed about the development told SIGNAL on Saturday that President Buhari has already started consultation with the leadership of the National Assembly and key Labour leaders before the official announcement.
According to the source, “President Buhari has come to terms with the economic challenges associated with government subsidy for petroleum products. The current economic situation of the country, has made it even more imperative to remove subsidy, because it is not sustainable.”
It will be recalled that in July 2015, President Buhari dismissed calls for his government to remove fuel subsidy. According to him, “I have received many literature on the need to remove subsidies, but much of it has no depth”.