CONTRARY to widespread belief that the removal of subsidy on petrol by the Federal Government is responsible for its soaring prices, the subsidy has not been completely removed, Minister of State for Petroleum Resources, Timipre Sylva, said on Monday.

Speaking on Channels’ Politics Today, the minister said: “We are still trying to manage this bumpy start. We have not been able to get to that 100 per cent removal of subsidy from the foreign exchange end.

“If we were to take it out completely and allow people to access foreign exchange from the parallel market and allow people to import the product, the price of the pump will even be more.

The Federal Government, knowing the impact it will have on the people, decided that they are still going to manage this situation.”

On the agreement with the Niger republic to import oil, he said “I don’t see that as an embarrassment at all. Nigeria is a big market. We need products. Even if all our refineries are functioning, we will still need extra products.

“Niger Republic produces oil and they are landlocked as a country. They have a refinery that refines in excess of what they require.

“They offered to sell the excess to Nigeria because this is a bigger market. In the spirit of regional cooperation, regional trade, we decided to buy from them. I don’t see anything wrong with that.”

https://thenationonlineng.net/petrol-subsidy-not-completely-gone-says-minister/

Government of confusion by the confused and for the confused supporters.

Please remove the subsidy completely so we can buy petrol at N1000 per litre in peace. Can't wait.

As if we ever believed otherwise before

Lolzzz.. Dis is simply to remind Nigerians to expect more increase in fuel pump price

No one except zombies believes that subsidy payment is gone. Buhari's administration is the worst in history

Lol........ Subsidy wey dem dn remove pass 3 times.

How many times will they be done with their fraudulent subsidy/subsidy under-recovery issue? Government of lies, by chronic liars/fraudsters and for zombies.Always governing by lies and propaganda.

Finally, they are telling the truth, for once, this APC government


Like I always say....SO LONG AS GOVERNMENT IS STILL ANNOUNCING THE PRICE OF PETROL THERE IS A SUBSIDY.

Once again, the government keeps a policy thaat is responsible in large part for our bad refinereis, and for our importing oil from everywhere

Oil subsidy has to go.

Racoon:
How many times will they be done with their fraudulent subsidy/subsidy under-recovery issue? Government of lies, by chronic liars/fraudsters and for zombies.Always governing by lies and propaganda.

Because if they remove subsidy, the price of petrol would have been retailling for 300 naira or more.

Which is good news for our economy and for our refinereis and petrol sector. NNPC can now make a profit to fix the refinereis, plus they would be incentivsed to make the refinereis work. (If government privatises NNPC as well...and ends their subvention..good).

It also means many more people will invest in refinereis in Nigeria since they are now earning a profit. Importation will end naturally

The bad news....high prices of food and transport. But once we increase production, it is very likely prices will come down.

Iit is also politically expensive. APC would rather keep up the corrupt subsidy r egime than remove it and get kicked out of power.