The federal government has disclosed that the subsidy of
fuel will last for another 18months, pending when an amendment in the Petroleum
Industry Act will be forwarded to the National Assembly.
Minister of State for Petroleum Resources, Timipre Sylva
gave this indication on Tuesday while briefing State House Correspondents in
Abuja.
According to Sylva, President Muhammadu Buhari being aware
of the negative implications of total subsidy removal has graciously approved
that the time frame be extended, to allow the government put necessary
palliatives in place.
He said already, the rehabilitation of refineries are
ongoing, while Dangote refinery is almost coming on stream.
Recall that in the last few weeks there has been
apprehension over the government’s proposed plans to remove subsidy.
Nigerians had raised an alarm that the proposed subsidy
removal could hike the petrol pump price to N302 per litre.
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