Minister of State for Petroleum Resources, Timipre Sylva has stated that contrary to popular belief, the federal government has not completely removed petrol subsidy.
Speaking on Channels’ Politics Today, the minister said: “We are still trying to manage this bumpy start. We have not been able to get to that 100 percent removal of subsidy from the foreign exchange end.
“If we were to take it out completely and allow people to access foreign exchange from the parallel market and allow people to import the product, the price of the pump will even be more.
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“The Federal Government, knowing the impact it will have on the people, decided that they are still going to manage this situation.”
Speaking on the importation of petrol from Niger, the Minister expressed that the importation of fuel from the Niger Republic is not something Nigerians should be embarrassed about.
He expressed that Nigerians should be proud that the Federal Government is set to resume the importation of petroleum products from its neighbour.