FG reveals why fuel subsidy must not be returned (See here)

 

Minister of State for Petroleum Resources, Timipre Sylva has stated that the return of fuel subsidy will lead to a scarcity of fuel in the country.

Recall that the Federal government recently announced the stoppage of fuel subsidy which later resulted in a hike of petroleum.

Speaking on a live TV program on Tuesday, the minister explained that with the loss of over 60 percent of government revenue, it was impossible to continue with the subsidy regime, which he said was drying up government earnings.

READ ALSO:  Mob descends on Yahoo Boy for attempting to hypnotize 6-year-old, in a bid to allegedly use him for rituals.

Sylva also pointed out that the deregulation of the sector is the only way to draw investment from the private sector.

For advert placements, sponsorship, media (Music/Video) promotions, or to share breaking News stories with us, contact; +2348166333024 or +2347062811394Contact 08166333024 for ad placement, news update and others
Share this:
About Jeff Alex 293 Articles
First rule of business; Stay out of mine.🤝