Breaking News: FG Explains Reasons Behind Deregulation Policy - Politics - Nairaland
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| Breaking News: FG Explains Reasons Behind Deregulation Policy by Ukpaka: 10:48pm On Jul 08, 2020 |
Breaking News: FG Explains Reasons behind Deregulation Policy https://247ureports.com/2020/07/breaking-news-fg-explains-reasons-behind-deregulation-policy/ - The federal government has said in view of recent misguided comments and innuendos, it has become expedient for the Ministry of Petroleum to explain misconceptions around the issue of Petroleum Products Deregulation. Minister of State for Petroleum, Chief Timipre Sylva, in a statement he personally signed Wednesday in Abuja, explained that after a thorough examination of the economics of subsidising PMS for domestic consumption, the federal government concluded that it was unrealistic to continue with the burden of subsidizing PMS to the tune of trillions of Naira every year. The Minister said more so when the said subsidy was benefiting in large part the rich rather than the poor and ordinary Nigerians. |
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