FG quietly removes electricity subsidy, set for fuel removal

The Minister of Finance, ZAINAB AHMED, has revealed how the Federal Government quietly removed the subsidy on electricity tariff, adding that government had adjust the prices incrementally at some levels.

Speaking at a virtual meeting of African Finance Ministers and the International Monetary Fund, ZAINAB also said the amendment of the budget was ongoing to accommodate the incremental removal of fuel subsidy.

The Minister noted that fuel subsidy remained a huge problem for the government as it had thrown up deficits more than what was planned, adding that the rise in global oil prices would worsen the issue.