Following jubilation by Nigerians over a U-turn made by the federal government (FG) on the total removal of fuel subsidy by mid this year yesterday, the Minister of petroleum, Timipre Sylva, says that it is not yet over as the FG need about 18months extension to make some amendments in the petroleum Industry Act (PIA) before it will finally be removed. The Minister gave this information today Tuesday while speaking to the state House correspondents in Abuja, saying they will soon send the petroleum Industrial Act to the lawmakers for amendment.
According to the Minister, President Buhari is fully aware of the impending hardship the total removal of subsidy will have on Nigerians, that is why he approved the extension for the removal by 18 months to allow some palliative to be in place before the date of removal.
Mr. Sylvia hinted that the Nigerian refineries are currently undergoing rehabilitation, this is as the Dangote refinery is about to be put to use.
Vigil360 earlier reported that Nigerians were agitated with the news of the total removal of subsidies by the Ministry of finance.
According to a report as being circulated by citizens, it was alleged a liter of petroleum may cost as high as N302 when the subsidy is finally removed.
