Subsidy removal: Experts task FG on rehabilitation of local refineries


By Emmanuella Anokam

Economic experts have advised the Federal Government to ensure that the local refineries are working optimally for effective implementation of the proposed fuel subsidy removal.

The experts gave the advice in separate interviews with the News Agency of Nigeria (NAN) in Abuja on Sunday, while speaking on the proposed subsidy removal.

NAN recalls that the Federal Government in order to comply with the provisions of the Petroleum Industry Act (PIA) had announced working through a process for the removal of petroleum subsidy from July, 2022.

Dr Olanrewaju Aladeitan, an oil and gas expert, said that the impact of the subsidy removal would be minimised if both the brown and green refineries were up and running.

Aladeitan noted that an increase in the supply of the Premium Motor Spirit (PMS), known as petroleum in the country may lead to a reasonable and affordable price.

“Removal of petroleum subsidy which is a consumption subsidy if done in a truly…

Source: News Agency of Nigeria