No Plan To Remove Fuel Subsidy- Petroleum Minister

By Adeyemi Busola

The Minister of State for Petroleum Resources, Timipre Sylva, yesterday said there was no plan to remove fuel subsidy. Speaking when he appeared before the joint Senate and House of Representatives Committees on Petroleum Resources (Downstream), he said though subsidy was in the 2020 budget, market forces and reforms being introduced in the oil sector would determine “how it goes.” “Subsidy may not be very clearly captured, but I assure you it is there. If you look carefully you will see it. Of course, we all know the price of PMS will be N145, that is what should concern you,”  he said. He also said repairs of refineries would start in January next year. “Work will commence on Port Harcourt Refinery in January and study is also ongoing on Warrior Refinery and Kaduna Refinery,” he said.