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The Minister of State for Petroleum Resources, Chief Timipre Sylva, on Thursday repealed that the Federal Government is currently financially incapable to pay for subsidy.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