The All Progressives Congress (APC) has welcomed the Federal Government’s suspension of the planned removal of subsidy on petroleum products.
The party in a statement issued in Abuja on Monday states that the Federal Government took into consideration the fact that the removal of subsidy at this time will heighten inflation and cause undue hardship on the citizenry.
The ruling party noted that Programmes and policies of government are meant to benefit the people adding that if the timing of the planned subsidy removal would cause hardship on citizens, then a review was necessary.
The statetement signed by the Secretary of the APC Caretaker committee, John Akpanudoedehe commends 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 statement noted that in line with the new Petroleum Industry Act (PIA), the Federal Government is already putting in place, aimed at boosting local refining capacities to reduce the country’s reliance on expensive import of refined petroleum products.
The party says this step will in due course usher in the eventual and full deregulation of the country’s petroleum sector.
