By Nudoiba Ojen
The Special Adviser to the President on Energy, Mrs Olu Veŕheijen, has said that the Federal Government reserves the right to pay intervene intermittently in fuel subsidy to cushion hardship in the country.
Veŕheijen, who spoke while briefing journalists in Abuja on Friday, said
governments across the world intervene at difficult times to address economic hardship by way of subsidy.
The International Monetary Fund has said that the Nigerian government brought back petroleum subsidies through the back door.
While responding to questions about whether the government has returned fuel subsidy according to the IMF claim, the special adviser said that governments across the world intervene at difficult times to address economic hardship by way of subsidy.
Although she did not state whether the subsidy has fully returned, she said the government is doing all in its power to maintain the price of fuel to cushion the impact on the citizens.
“The subsidy was removed on May 29. However, the government has the prerogative to maintain price stability to address social unrest. They reserve the right to intervene.
“If the government feels that it cannot continue to allow prices to fluctuate due to high inflation and exchange rates, the government reserves the right to intervene intermittently and that, does not negate the fact that subsidy has been removed,” she said.
