The Federal Government has insisted that Nigerians should brace up for an increment in the pump price of petrol, in the light of the current economic situation in the country.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, addressed journalists on the sidelines of a graduation and awards ceremony organised by the Offshore Technology Institute, University of Port Harcourt, Rivers State, where 14 master’s degree graduands of its 2019/2020 Batch Seven were recognised on Friday.

Sylvia said the Federal Government would soon scrap the current subsidy regime for Premium Motor Spirit, which, according to him, was “benefiting certain businessmen in the country.”

The minister said, “It is very unfortunate that if (there is) an increment in fuel pump price, (it) would have an impact on the marketplace and we are not happy about that. The President especially does not want to do it, but the economic realities are staring us in the face.

“Can we continue to support the subsidy, which is not necessarily benefiting the ordinary person, but is benefiting certain individuals who are businessmen in the country? I don’t want to identify the people that are benefiting.

“Subsidy is not directly benefitting Nigerians; the biggest contact with Nigerians is kerosene consumption used by local persons for cooking; as for diesel, it is used to transport food items and so on. But these have been deregulated for a long time now.”

According to him, PMS, which he said is not the preferred fuel of the common man, continues to defy deregulation. He added that, because PMS proponents are the most vocal, they continue to kick against deregulation “but we are going to get there.”

Sylvia added, “Right now, we are still in discussion with stakeholders, so we have decided to go on with subsidy for some time, until we are able to conclude our discussions with the stakeholders and announce the policy direction.”

Earlier, acting Director, Offshore Technology Institute, University of Port Harcourt, Dr Robinson Briggs, described the graduands as a unique and special group of students who were faced with a great challenge as a result of the COVID-19 pandemic.

Source: https://m.punchng.com/Why-fuel-subsidy-cant-continue-FG

Mumu talk

It can't continue so that you can increase fuel price on weekly basses ehh?

You better continue with it.

Timipre who failed as a governor! How can he produce anything successful?

We allowed you remove fuel subsidy before but you kept adding it back and you have refused to fix refineries , even when it leaked you were still paying subsidy your useless came out to deny it and then later called it " UNDER RECOVERY" and now you want to blame Nigerians for the subsidy as if we caused it....

The Buhari subsidy has been shrouded in so much secrecy to hide the brazen corruption going on there ...NNPC is the one lying to itself by claiming daily consumption big fuel is above 60 million litres when in reality it's now even below 22 million litres which means a corrupt cabal has frittered away trillions of naira in falsified subsidy payment since Buhari came

Continue deceiving yourself...

After wasting millions of dollars to campaign against the removal of fuel subsidy, Apc is now 5 years + in power still want to be telling us bull and co.ck story.

Oshisco

In other words we wan increase price

increase in everything

Failed contraption

The country is gone to the Dogs

This same government has stopped subsidy too many times to count, we don't know what to believe again. Scrap the PPPRA, dem no go gree

jlinkd78:
Failed contraption

......called Nigeria!

Is this not the same thing GEJ tried to do and APC , Oshiomole and others protested.
They should also scrap the national assembly, presidency, npf, army as well. They are all useless

A create of egg that I used to buy for ₦700 last year is now ₦1700 in my area.

I had to ask a poultry farmer friend in another state what is happening.

He said it's CBN governor o, the man is just taking everybody for a ride with his cut and join experiment.

He ban Maize and other stuff used for making feeds, and immediately the commodity became scarce and price of feed went up. Obviously it will affect the price of poultry products.

Sadly, Emefele is doing all this just to please Northern farmers that plants rice, maize and Co.
Everything Emefele ban always go up in price, just like rice, maize and another calamity that Nigerians will soon experience is sugar, you must be dreaming if you think you can buy ₦50 sugar by next year.
I haven't forgotten when a satchet of tomato paste was ₦30 until Emefele ban it and the price rose to ₦50, now it's ₦125 a satchet.

In a sane country someone like Emefele would have resigned. but see how lucky he is in a corrupt country like Nigeria

Subsidy is not directly benefitting Nigerians; the biggest contact with Nigerians is kerosene consumption used by local persons for cooking; as for diesel, it is used to transport food items and so on. But these have been deregulated for a long time now.”

Its because they have looted everything dry.

How many times this people wan end subsidy in this country.

Nigeria will be refurbishing politicians. Wasn't this one a governor before?

helinues:
Continue deceiving yourself...

After wasting millions of dollars to campaign against the removal of fuel subsidy, Apc is now 5 years + in power still want to be telling us bull and co.ck story.

Oshisco

Early morning wailing activated. Remember to link your NIN

I remember when buhari was contesting for president and was asked a simple question on fuel subsidy, he answered thus "who is subsidising who, subsidy is just a way of syphoning funds"
I foresee buhari and all his supporters suffering for 600years with their unborn generations

This I have seen

I thought bubu said there's nothing like fuel subsidy? This APC people can Lai

JonDon12:
Is this not the same thing GEJ tried to do and APC , Oshiomole and others protested.
They should also scrap the national assembly, presidency, npf, army as well. They are all useless

These idiots use propaganda scatter GEJ govt. E no go better for them

adenigga:

Source: https://m.punchng.com/Why-fuel-subsidy-cant-continue-FG

PMS is not the preferred fuel of the common man ke? A whole minister of petroleum. Are these people ok? Do the Danfo drivers put kerosene inside their tanks? What do they think will happen to transport prices? Or the general cost of doing business?

totopi5654:
Good morning

scam

I thought the APC said that subside is scam? That there's no subside,
How come they now want to remove something that is not there.




Meanwhile the bet9naija guy up there � should sell his father's house and stake the money.
He will be richer than dangote.

Wow

Ok