The federal government says it is yet to devise a workable formula for the removal of fuel subsidy.
Speaking at the federal executive council meeting, Zainab Ahmed, minister of finance, said removal of subsidy would have negative effect on vulnerable Nigerians.
Christine Lagarde, managing director of the International Monetary Fund (IMF), had advised Nigeria and other countries to remove fuel subsidy, saying the money spent on subsidy can be redirected to health and education.
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Speaking at the federal executive council meeting, Zainab Ahmed, minister of finance, said removal of subsidy would have negative effect on vulnerable Nigerians.
Christine Lagarde, managing director of the International Monetary Fund (IMF), had advised Nigeria and other countries to remove fuel subsidy, saying the money spent on subsidy can be redirected to health and education.
read more