ABUJA — Minister of State for Petroleum Resources, Timipre Sylva said 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.
He gave this indication on Tuesday while briefing State House Correspondents in Abuja, explaining that the rehabilitation of refineries are ongoing, while Dangote refinery is almost coming on stream.
“President Muhammadu Buhari being aware of the negative implications of total subsidy removal has graciously approved that the time frame is extended, to allow the government put necessary palliatives in place,” he said.
Nigerians had raised an alarm that the proposed subsidy removal could hike the petrol pump price to N302 per litre.
