The federal government is exploring autogas as a substitute for Premium Motor Spirit, also known as petrol.
According to Timipre Sylva, Minister of State for Petroleum, who mentioned this during an interview on Channels Television’s Newsnight, the government is planning to withdraw the fuel subsidy.
Vice President Yemi Osinbajo, in his capacity as Chairman of the National Economic Council, is also conducting a discussion with state governors about the government’s plans to introduce palliatives to the public, Sylva stated.
“So we have to sit back together to now thinking about the process that can have the least effect on the people. That is why we are thinking of a lot of options like giving them an alternative fuel which will be cheaper and that is why we are looking at autogas,” the Minister said.
“We believe that will give an alternative so that if they find PMS too expensive, then they can have an alternative. Of course, we are looking at the impact it would have on their personal income and expenditure.
“The Vice President is also leading an effort, discussing palliatives to the people. All those are the things we are discussing. We need to bring everything together before we can now come out and say look this is the package we have and this is the policy direction towards subsidy removal.”