The federal government of Nigeria has revealed that the subsidy of fuel will last for another 18months, to enable it forward another amendment in the Petroleum Industry Act to the National Assembly for consideration.
Minister of State for Petroleum Resources, Timipre Sylva made this known 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.
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He said already, the rehabilitation of refineries are ongoing, while Dangote refinery is almost coming on stream.
Africa Today News, New York recalls that over the last few weeks there has been serious 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.
Africa Today News, New York had earlier reported that Nigeria’s Senate President, Senator Ahmed Lawan had earlier submitted that President Muhammadu Buhari did not at any point direct anyone in his administration to implement the removal of petroleum subsidy.
Speaking with reporters after meeting with the president at the Presidential Villa, Abuja, last week, Lawan disclosed that he spoke with Buhari about the feelings and concerns of his constituents on critical issues, including the proposed removal of subsidy.
The Senate President said he raised the issue with the president because lawmakers were worried about the agitations and protests around the country over the move to end petrol subsidy.
Lawan, who said the subsidy could not be transferred to citizens, expressed doubt over the reported consumption of 100 million litres of Premium Motor Spirit (petrol) per day in the country.
He said he was glad to inform Nigerians that Buhari had not told anyone to remove petroleum subsidy.