BREAKING: Fuel Subsidy Will Last For 18 More Months – FG

The federal government has said the subsidy of fuel will last for 18 more months, pending when an amendment in the Petroleum Industry Act will be forwarded to the National Assembly.

Minister of State for Petroleum Resources, Timipre Sylva, disclosed this on Tuesday while briefing State House Correspondents in Abuja.

Sylva noted that 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 the Dangote refinery is almost coming on stream.

Recall, 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.

Earlier, Prime Business Africa reported that Senate President Ahmad Lawan begged the Nigeria Labour Congress (NLC), and the Trade Union Congress (TUC) to terminate planned protests against Federal Government’s plan to end the controversial fuel  subsidy regime.

Lawan described the planned nationwide protest as “totally unnecessary,” saying in as much as the administration and management of subsidy on petroleum products are flawed, President Muhammadu Buhari-led government believes that sufficient planning must be carried out before its eventual removal.