FG Currently Not Paying Subsidy On Petrol- Kachikwu
Published:27 Dec, 2015
Dr Ibe Kachikwu Minster of State For Petroleum on SubsidyThe Minister of State for Petroleum, Dr. Ibe Kachikwu, says the Nigerian government has suspended the subsidy on petroleum products as at today, December 27, as a result of the current low price of crude in the international market.
Dr. Kachikwu said the non-payment of subsidy would remain the same, as long as market trends allow.
He told reporters on Sunday in Kaduna that if crude prices increase, there would be a review which would be tackled under the newly introduced price modulation in the sector.
The price modulation, according to the Minister, is not an outright removal of petrol subsidy.