FAAC last month set up a committee to look into the possible removal of fuel subsidy. The committee comprised a member from the commissioners’ forum, the customs, state accountants general and the minister of state for finance etc.
On the submission of the report yesterday, FAAC simply approved the removal.
According to the chairman of Commissioners forum, Mr Timothy Odaah, the approval would be sent to the President for ratification.
He said that the fuel subsidy has not solved the problem for which it was introduced, adding that only a few privileged individuals are benefiting from it to the detriment of the majority Nigerians.
But the removal is subject to the ratification of President Goodluck Jonathan.
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