The Federal Government on Tuesday proposed the extension of fuel subsidy removal for 18 months and is planning to seek to amend the Petroleum Industry Act to such effect.
The Minister of State for Petroleum Resources, Mr Timipre Sylva,
disclosed this on Tuesday while briefing State House correspondents in
Abuja.
According to the minister, the Federal Government will approach the
National Assembly for amendment of thew Petroleum Industry Act,
PIA.
He said the extension will give all stakeholders time to ensure that the
implementation is carried out in a manner that ensures all necessary
modalities are in place to cushion the effect of the fuel subsidy removal,
in line with prevailing economic realities.
