Business / Politics

Nigerian government not financially able to pay subsidy – minister

By wazup on September 3, 2020 Comments Closed / 106 views

Nigerian government not financially able to pay subsidy – minister

The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that more private and public sector collaboration will be encouraged as Nigeria steps up effort to realise its target of boosting domestic gas utilisation.

Minister of State for Petroleum Resources, Chief Timipre Sylva, Thursday, disclosed that the Federal Government was not currently capable, financially, to pay the subsidy.

Addressing newsmen men in Abuja, Sylva disclosed that since the introduction of the deregulation policy, the country has saved about N1 trillion.

He further disclosed that the Federal Government has concluded plans to merge the Petroleum Products Pricing Regulatory Agency, PPPRA, and the Petroleum Equalisation Fund, PEF, into one agency called The Authority.

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Energy Federal Government Financially Minister of State for Petroleum Resources PEF Petroleum Equalisation Fund Petroleum Products Pricing Regulatory Agency PPPRA The Authority Thursday Timipre Sylva