The fears of many Nigerians over the hike in the price of PMS have been allayed by the government, following revelations that petroleum subsidy is provided for in the 2022 budget.
GMD of the NNPC, Mr. Mele Kyari made the revelation on Wednesday at the opening of a three day public hearing on the 2022 to 2024 Medium term expenditure framework (MTEF) & the Fiscal Strategy Paper (FSP).
The public hearing is organised by the senate, to examine the two fiscal documents that provide the bases for the annual national budget.
Mr. Kyari also assured Nigerians that stakeholders’ engagement is still ongoing to ascertain when and how best to implement a hike in the pump price of PMS which currently stands at =N=162 per litre.
According to the NNPC GMD, subsidy was provided in the 2022 budget because it is not very clear if the stakeholders’ engagement would end before the second quarter of 2022.
Nigeria Labour Congress, Trade Union Congress, representatives of the government, and civil society organisations are among the stakeholders involved in the engagement.
Chairman of the senate committee on Finance, Senator Adeola Olamilekan, informed the participants that the public hearing will enable the Lawmakers understand the rationale behind the various parameters for the 2022 budget as contained in the MTEF & FSP.
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