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Fuel subsidies: Nigeria opts out of removal

26/01/2022
Categories: Raw materials

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The government of Nigeria had announced the removal of fuel subsidies. An extremely popular measure in the most populous country in Africa, a year before the presidential election.

Faced with a serious budget crisis, the government had first proposed to remove these maligned subsidies which siphon billions of dollars from the public coffers each year, but which allow service stations to sell gasoline at prices well below the market. . Oil Minister Timipre Sylva said on Tuesday that the current government would propose to postpone the end of the subsidy system for 18 months, leaving the decision on their future in the hands of the government that will emerge from the next election. The Nigerian National Union NLC, which had planned to demonstrate on Thursday against any attempt to stop the subsidy system, announced on Tuesday that it was calling off the protest.

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