The Presidential Economic Advisory Council has asked President, BUHARI, to remove subsidy on petrol and adopt a pricing regime that reflects the cost of the commodity.
BUHARI had in 2019 set up the council chaired by Prof DOYIN SALAMI to replace the defunct Economic Management Team led by Vice-President YEMI OSINBAJO.
The council, charged with the responsibility of advising the President on economic policy matters including fiscal analysis, and economic growth reports directly to BUHARI.
Its advice that petrol subsidy be removed formed part of its presentation at its sixth regular meeting with the President last Friday, when it also warned that the subsidy regime would worsen solvency of state governments.
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