The federal government on Tuesday announced that the subsidy of fuel will last for another 18months, pending when an amendment in the Petroleum Industry Act will be made available to the National Assembly.
The announcement was made by the Minister of State for Petroleum Resources, Timipre Sylva, Naija News reports.
The Minister while briefing State House Correspondents in Abuja earlier today, said President Muhammadu Buhari was informed of the negative implications of total subsidy removal and has graciously approved that the time frame be extended.
The government will within the time frame put necessary palliatives in place, the minister noted.
Sylva explained further that the rehabilitation of refineries are ongoing, while Dangote refinery is almost coming on stream.
More details later…
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