By Haruna Salami
The Minister of State, Petroleum Resources, Timipre Sylva has ruled out the possibility of removing fuel subsidy now.
Speaking at a meeting of stakeholders in the oil and gas sector at the instance of the Senate President Monday at the National Assembly, Sylva said it is clear to the blind and audible to the deaf that the timing for removal of fuel subsidy is wrong.
The Senate President, Ahmad Lawan, earlier laid the foundation for the meeting when he recalled his meeting with President Muhammadu Buhari on the possible removal of petroleum subsidy.
However, Sylva said the issue of fuel subsidy is a legislative one since the 2022 Appropriation Act provides for subsidy up to June this year, implying that there won’t be subsidy from July.
The only option according to him is for the National Assembly to revisit the Appropriation Act with the view to amending it to provide for subsidy beyond June 2022, adding that “law is no cast in iron”.
The GMD of NNPC Ltd, Melee Kyari simply said the company which has the responsibility to fill the gap in oil prices for the nation will do just that at all times.
The meeting which is being attended by the Ministers of Finance and Petroleum (State), GMD, NNPC Ltd, top officials in the oil and gas was chaired by the Senate President and attended by the Senate Leader, later went into close session.
