The Federal Government is planning to propose an 18 month extension of the removal of fuel subsidy.

The Minister of State for Petroleum, Mr. Timipre Sylva, stated this while briefing State House correspondents on the state of affairs on the matter.

Mr Timiprye Silva

He said the removal of the subsidy was enshrined in the Petroleum Industry Act, explaining that the proposed extension would be sent to the National Assembly for amendment to avoid acting illegally.

Mr. Sylva argued that by the assent of President Buhari of the Petroleum Industry Bill in August last year, the PMS subsidy removal was expected to be effective from next month.

He however said following the envisaged implications the removal of the subsidy would cause, President Buhari agreed to an extension in line with the law.

The Minister said the extension would give stakeholders time to ensure that the implementation of the subsidy was carried out in a manner that all modalities were in place to cushion the effects of the policy.

He said President Buhari had assured that his administration would continue to put in place necessary measures to protect the livelihoods of Nigerians, especially the most vulnerable ones.



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