About a week after she told federal lawmakers that the federal government had no plans to remove subsidy on petrol, the Minister of Petroleum, Diezani Alison-Madueke, said on Tuesday that payment of subsidy on petrol ‘cannot be sustained any longer.’
Mrs. Alison-Madueke stated this at the ongoing Nigeria Oil and Gas Conference in Abuja.
“The continued regulation of the downstream sector has its positive and negative impact on the economy, but the negative effect is more than the positive,” the minister said.
“The subsidy policy cannot be sustained any longer.Fuel queu
“This is because the subsidy payment did not benefit the poor it was targeting, but rather it is benefiting the rich,” she added. God help Nigeria
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