The Muhammadu Buhari Government has disclosed the reason it cannot remove the controversial petrol subsidy.
In an interview with Reuters on Monday, the Minister of Information and Culture, Lai Mohammed, said that it is not the right time to remove the costly fuel subsidy.
Mohammed stated that the federal government postponed the planned petrol subsidy removal till further notice due to the economic woes and social disharmony in the country.
He added that many other countries had introduced measures to help citizens cope with high oil energy prices due to the Russia-Ukraine war.
“When you consider the chaos, the social disharmony and… instability such an action (of abolishing subsidies) would facilitate, is it worth it? I don’t think so,” he said.
Speaking further, the minister stated that the Nigerian government is doing its best to address the menace of pipeline vandalism in the country.
Mohammed added that the new Petroleum Industry law that allocates money to oil-producing communities would stop attacks, blaming the European Union’s climate change policies for stifling investment in the sector.
“We believe that climate change is real and important for emission control, but there is a bit of double standard in the EU policy regarding climate change,” he said.