Fuel Subsidy Still in effect – FG

During a conversation outside of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) stakeholders’ engagement meeting on rules, Minister of State for Petroleum Resources Timipre Sylva provided the clarification.

The authority organized the stakeholders’ meeting, which took place in Abuja, to study and review the midstream and downstream petroleum rules and to leave the business with laws and policies that will encourage necessary investment in the industry.

In response to marketers raising the price of gasoline at the pump from N165 per litre to N169, N184, or N218 per litre depending on the region in Abuja and other states, Sylva expressed her outrage.
He said: “I can tell you authoritatively, we have not deregulated. The government is still subsidising petrol prices. If there are increases in price, it is not from the government.
“It is probably from the marketers but of course, I will talk to the authority to ensure that they actually regulate the price. This is not from the government, we have not deregulated.
“But a lot is going on to ensure that the queues end. As of yesterday, I noticed that the queues in Abuja are easing off.”

GOGAN Media.