Two serving ministers in on Friday questioned the removal of fuel subsidy and the floating of the Nigerian currency.
The Minister of Budget and Planning, Atiku Abubakar Bagudu and his counterpart in the Ministry of Agriculture Senator Abubakar Kyari, while picking holes in the economic policies of the President Tinubu-led government, expressed concern over the deleterious effects of fuel subsidy removal and floating of the Naira on the economy.
Bagudu and Kyari spoke at a session with the joint Committee of the Senate: the Committee on Finance; Banking, Insurance and other Financial Institutions Committee and Appropriation Committee.
The Minister of Budget, Atiku Abubakar Bagudu lamented that the removal of fuel subsidy has instigated a high cost of petroleum with attendant costs for farmers.
Ministry of Agriculture, Abubakar Kyari, on his part, declared that devaluation of the Naira in the guise of floating the currency has made farm produce in the country cheaper in the neighbouring country and consequently encouraged what he called “undocumented exports of food to our neighbouring countries.
“Our food products are the cheapest around the neighbourhood,” Kyari declared.
