FG Removes Fuel Subsidy, Reduces Pump Price

The Federal Government has made its intentions known to reduce pump price of petrol to N85 per litre, come January 1.

Vanguard reports that the Minister of State for Petroleum, Dr. Emmanuel Ibe Kachikwu, addressed newsmen during a tour of the Port Harcourt refinery yesterday, December 25.He said that the Federal government is working to reduce the pump price of petrol to about 85 or 86 naira per litre by Jan 1st. He said:

Remove Fuel Subsidy - Stakeholders

The stakeholders gave the advice in Lagos yesterday at the Oil Trading Logistics Africa conference where they gathered to deliberate on Stakeholders within Nigeria downstream sector have insisted that as a result of the autumn in crude oil costs that has resulted in decline in revenue generation, the Federal Government needs to take away grant on fossil oil product.

The stakeholders gave the recommendation in Lagos yesterday at the Oil Trading Logistics Africa conference they deliberated on “Fueling Economic Growth through Petroleum Policy and Infrastructure: The Downstream Agenda”.

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