The Federal Executive Council on Wednesday said it would not rescind the removal of the subsidy on petroleum products.
Minister of Information, Mr. Labaran Maku, told newsmen at the end of the emergency FEC meeting at the Council Chambers of the State House, Abuja, that government was not unmindful of the pains being experienced by Nigerians, as a result of the action.
He said the Federal Government had commenced a massive mass transit scheme to cushion the effect of the subsidy removal on transportation. Under the scheme, thousands of mass transit vehicles are to be distributed.
He was joined by the Minister of Trade and Investment, Mr. Olusegun Aganga; and the Minister of Transport, Idris Umar.
The emergency meeting, which was chaired by President Goodluck Jonathan, began at 12. 15p.m and around 3.30pm.
Vice-President Namadi Sambo; Labour Minister, Emeka Wogu; and the Minister of National Planning, Shamsudeen Usman, were among those in attendance.
Absent from the meeting were Finance Minister, Mrs. Ngozi Okonjo-Iweala; and Petroleum Minister, Mrs. Dieziani Alison-Madueke.
FEC last met on December 21 and adjourned till January 11