Home News FG Unable to Pay Subsidy, Minister Reveals
News

FG Unable to Pay Subsidy, Minister Reveals

Share
FG Unable to Pay Subsidy, Minister Reveals | Daily Report Nigeria
Minister of Petroleum for State, Timipre Sylva
Share

-N1trn saved from subsidy removal

-To merge PPPRA, PEF

The Minister of State for Petroleum Resources, Chief Timipre Sylva, on Thursday repealed that the Federal Government is currently financially incapable to pay for subsidy.

Sylva who was addressing newsmen men in Abuja, the Federal Capital Territory, revealed that since the introduction of the deregulation policy, the country has saved about N1 trillion.

The former Bayelsa state governor 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.

ATTENTION: Click HERE to join our WhatsApp group and receive News updates directly on your WhatsApp!

Details shortly…

Share
Written by
Tare Magbei -

With more than five years of covering different topics, Tare Magbei is a versatile journalist.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
Appeal Court Did Not Acquit Nnamdi Kanu – FG
News

Insecurity in Southeast: Nnamdi Kanu Seeks EU, US Probe Ahead of Trial

Nnamdi Kanu urges EU, US to probe state-sponsored insecurity in Southeast Nigeria....

Reactions As Wizkid's Son Snubs Peller's Link Up Request | Daily Report Nigeria
News

Reactions As Wizkid’s Son Snubs Peller’s Link Up Request

Controversial Nigerian streamer, Peller has reacted after being snubbed by music superstar,...

EFCC to Probe Kwankwanso, Fayose, Odili, Sylva, 9 Other Ex-Govs For N853.8bn Fraud
News

CBEX: EFCC Launches Manhunt For Promoters

The efcc has launched a manhunt for the operators and promoters of...

Local Government Bans Cutlasses, Sharp Objects In Yobe | Daily Report Nigeria
News

Local Government Bans Cutlasses, Sharp Objects In Yobe

A local government in Yobe state has banned the possession of Sharp...