BREAKING: Fuel Subsidy Will Last Another 18 Months – Federal Government
The federal administration has announced that the fuel subsidy will be extended for another 18 months, pending the National Assembly’s approval of a change to the Petroleum Industry Act.
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.
DAILY POST recalls 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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