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.
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