Nigeria’s ruling party, the All Progressives Congress, has thrown its weight behind the decision of the Muhammadu Buhari led Federal Government to suspend the removal of subsidy on petroleum products.
The APC in a statement issued on Monday and signed by its National Secretary, Sen. John Akpanudoedehe, said the Buhari administration in taking the decision took into cognizance the fact that removing subsidy at this time would heighten inflation and cause undue hardship on Nigerians.
“Programmes and policies of government are meant to benefit the people. So if the timing of the planned subsidy removal would cause hardship on citizens, then a review was necessary. We commend President Muhammadu Buhari for always putting the welfare and well being of Nigerians first as he has serially displayed in the implementation of programmes and policies of this administration”, the APC said in the statement.
The party said that in line with the new Petroleum Industry Act (PIA), the Federal Government is already putting in place measures, particulary those boosting local refining capacities to reduce the country’s reliance on expensive import of refined petroleum products. It said this would in due course usher in the eventual and full deregulation of the country’s petroleum sector.
The APC commended what it said was the cordial and healthy relations between the Executive and the 9th National Assembly, which it said has ensured good governance.
He noted that Nigerians have been the ultimate beneficiaries as displayed in the positive outcomes of the meeting between Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed and the Senate President, Ahmad Lawan on the suspension of the planned subsidy removal.