The Minister of State for Petroleum Resources, Timipre Sylva, has yesterday debunked the rumour going around that the Federal government is planning to remove fuel subsidy.
The Minister made this claim while answering questions before the joint Senate and House of Reps committee on Petroleum Resources (Downstream), saying though subsidy was captured in the 2020 budget, however, market forces and reforms being introduced will play a major role in its implementation.
In his statement, “Subsidy may not be explicitly captured, but I assure you it is there. If you look carefully you will see it. Of course, we all know the price of PMS will be N145, that is what should concern you,” Sylva added.