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Federal Government determined to remove petrol subsidy

The Minister of Finance, Budget and National Planning, Zainab Ahmed, says the Federal Government is determined to remove subsidy on Premium Motor Spirit, commonly known as petrol.

She also said a panel chaired by Vice President Yemi Osinbajo would meet with the Nigeria Labour Congress and other stakeholders to consider the proposed N5,000 transport palliative and other options aimed at ameliorating the effects of the planned subsidy removal on Nigerians.

Responding to questions by journalists at the public presentation of the 2022 budget on Wednesday, Ahmed said the Federal Government was set to comply with the provisions of the Petroleum Industry Act 2021 to fully deregulate prices of petroleum products.

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