Minister of State for Petroleum Resources, Timipre Sylva has confessed that the federal government has not yet completedly remove fuel subsidy.
Sylva revealed this on Monday while appearing as a guest on Channels Television’s Politics.
The minister expressed that President Muhammadu Buhari-administration has begun the process of petroleum deregulation.
According to the minister, “We are still trying to manage this bumpy start. We have not really been able to get to that 100 per cent removal of subsidy from the foreign exchange end,
“If we were to actually take it out completely and allow people to access foreign exchange from the parallel market and allow people to import the product, the price of the pump will even be more.
“The Federal Government, knowing the impact it will have on the people, decided that they are still going to manage this situation.”
The statement of Sylva is contrary to his statement in September 2020 that the Federal Government has removed the budgetary provision for subsidy which is about N500 billion in the budget.
Also, Sylva had disclosed recently that the government has also taken off the excess forex price that special rate that was given to NNPC which also came at a cost. “All the money that we used to defend the naira at that time to subsidise the dollar will now be freed up for development,” he said.
He assured reporters in Abuja at that time that subsidy removal will save N1 trillion for Nigeria. He said the money saved will be used to fund other critical aspects of the economy.
However, industry analysts said yesterday’s statement of the Minister may raise tension further among workers unions led by the Nigeria Labour Congress (NLC) who had staged a walk out on Sunday from the meeting with the Labour Minister Dr Chris Ngige on Electricity Tariff/Fuel increase.
“If a litre of petrol is now N170 and the minister is confident of his books, he should show Nigerians actual amount saved from deregulation and reasons for turning around that no complete deregulation,” Chief Abayomi Daniel President, Save Nigerian Workers lamented.
The minister, who said kerosene and diesel have been deregulated a long time ago, wondered why petrol cannot be deregulated.
When asked if the recent agreement the Federal Government signed with Niger Republic to import oil is an embarrassment, the minister simply replied in the negative.
“I don’t see that as an embarrassment at all. As a country, Nigeria is a big market. We need products. Even if all our refineries are functioning, we will still need extra products.
“Niger Republic produces oil and they are landlocked as a country. They have a refinery that refines in excess of what they require.
“They offered to sell the excess to Nigeria because this is a bigger market. In the spirit of regional cooperation, regional trade, we decided to buy from them. I don’t see anything wrong with that.”
In March, the federal government had announced that the Petroleum Products Pricing Regulatory Agency (PPPRA) would modulate pricing in accordance with prevailing market dynamics.
In line with the directive, the ex-depot price of petrol as determined by the Petroleum Products Marketing Company (PPMC) increased from N138.62 to N151.56 per litre last week.
He noted that previous administrations lacked the political will to remove subsidy.
“It’s time for Nigerians to face reality and do the right thing. What is deregulation going to do? It is going to free up a lot more money. At least from the very beginning it will save us up to a trillion and more every year,” Sylva said.
“Already, we have taken up the budgetary provision for subsidy which is about N500 billion in the budget. Also, we have taken off the excess forex price that special rate that was given to NNPC which also came at a cost. All the money that we used to defend the naira at that time to subsidise the dollar will now be freed up for development.
Sylva’s remarks took place three days after the current administration, through the Ministry of Petroleum Resources, signed a Memorandum of Understanding with the government of Niger Republic for petroleum products importation.
According to a statement released by the ministry, Soraz Refinery in Zinder, Niger Republic, has an installed refining capacity of 20,000 barrels per day compared to the nation’s 5,000bpd domestic requirement.
Na waooo
Hmmmm
See country
Am telling you
This country get problem
Hmmmm
Any how we must buy
Hmm
Hmmm
Why all this thing happening in our country na
Hmmmmm
Hmmmmmmm
Gosh
Buhari
Okay
wow
na wa ooo
May God help us
Good
God help us
Okay oooo
I talked to him
May God help us
Critical
This is so serious oo, may God help us ooo
Okay
We need confirm change in Nigeria
Ok
hmmm
Really
Good
Abi oo
May God help us
Nar county be this
Abii
It is well
Okay
Na so nah
Nah problem
Inside life
Good
Good
Okay
?????
very foolish corrupt government..
Hmmmm
Nawahoo
Ok
Imagine..
Sure
Lord have mercy
May the Lord see us throgh
Ok
Okay good
Good news
Damn
Chai
only god can help us
Government ??
Jp
Ok
Abi na
Thanks
Ok
I talk Ham
Why na
The best way of doing,why can’t Nigeria build their our refinary because if more refinery were built there will be a little expenses to do and eventually will generate more income for the nation.
I agree with you
Naso
Na so
It’s just a matter of time
Kk
I agreed with you
Why
carry go
Olivia
Abi my pipu
OK
These isn’t fair
Meaning
Good luck to them
This is so unreasonable on the part of government…
Good news
Nonsense
Rubbish
nonsense mtcheee
Ok
An wa oooo
Na God hand we dey for this country
Nawa o
Hmm
Which kind of country is this
Hmm
Ok
Hmmmmm Niger
Hmmmm oga ooo
Hmmmm
Hmmmm
Nawa oooo
Toor
Mmmmhhh
Okay
???
Okay
Hmmmmmmm
?????
Nawaaaaa oooooh
Every where good
Hmmmmm
Hmmmm
Na wa o
WHAT RUBBISH
Hmmm
Dfgrrf
??
Hmm
Jaaaa
Kkk
Nice
Abi na
Nigeria
k
Hmm
Wow
Lord cm and interven
Good
Nigeria is in trouble oo
Good
May God help us
Okay o
God help us for Nigeria
Good
Good
Hmmmm
Nice
Ok
Ok
It’s just a matter of time
Omg
Alright
Noted
Good
Alright na
Yes nay
Na was oo
OK then
Very much
Hw
Up tmii
Ok
O ga o
Na wa oo
Abi na
Thanks again
With this information,it means that FG is deceving both NLC AND TUC. I want to advise these two Unions that they should not turi it to play matter with any type of government.We are shoutiy DEMOCRACY, BUT DO OPERATE IT IN THIS COUNTRY ?
May God deliver us.
Oooo
Mad oo
At no
Hmmm
Wow
Really
Just look at
So great
Welcome
Wow
Hmm
Hmmmmmmm
Kk
I thank God
Kk
Seriously
Good idea
Ok
Kk
Hmmmm
Nigeria
Wow
Really
Problem
Na die we dey
Okay
OK
Ok
Okay
Too bad
Confirm
Good of you, continue with it, your years will soon end in the office
Ok
hmm
Cool
Ok
Is okay
Ok
Hummmmm
Good
Before that fuel was 65 naira now it another story
Good
OK oooo
Like seriously
No be small thing o
Nice
This country sha
Okay
Okay
Wow
Na only God na know how dis country go be
Kk
Ok
Good now
it is well o
Good now
Nawa ooo
Story for the gods
This is unfair ooo
Na waa
am not sure the federal government will be able to remove fuel subsidy completely
Bad government
Okay
Jesus is lord !!!
Okay
REALLY?
Ah it’s unfair
This is not fair
Hmmmn!This is a serious matter.
Okay!!!
Only God can save us
It’s outrageous
Any how we must buy hw we go do
To
This one is serious oooo
Habsburg
Really
KK
Na wa ohhh
No lele
Too bad
Chai
Thanks
Ok
Ok
Reduce the price oo
Ok
Nice
Okay oo
This government will not kill us
God will touch there heart
wow
What a government
Yes
Better now there is oil refinery in imo state
Na so
Hmmm
Aii
Haaa
God no go shame us
Hhmmmm
Really
Hmmm
Na wah!
Hmmm
Which one do we believe ?
Nice
Na was ooo
oda oo
Ok
Thanks again
Thanks for the update
Na so
Are this people well
????
Hello oooo
We hope so
No be small thing
na wah ooo
The president is trying for the country
Ok
Hmm
Yeah
OK mm
No be small
Hmmm
This world selfish
That’s good
Haaa
FG do something for your people please
Abi
Hmmmmmmm
Jesus Christ
Nawaoo nija we contry
No be small thing o
We quite appreciate, the efforts of our leaders in making sure that things are in order. Please be very careful on the way things were being handle,to avoid future Problems.
Ok I’m gonna try
Nice
Ok
Ok na
Mercy
Hmmm
Hmmnn
Hmmmm
Good
Safety
Only God will save us in this country,it only through the intervention of God.
Wowoooo
Good
Alright
Mmmmm
Google
Hmm
Nawa oo
Nawa oo
It will be ok
Na waoooh
Wow
Fuel subsidy kaii
Hmmmmm
Na wa oo
Yes
Ok
Na wa oo
Kna
Opor
na wa ooo
Good
??
Hello
Yea
Good
Heyah
Hmmmmmmmm
Na oh
Ok o
Really
Great
True
This is fair
Oshhhhh… So fair
Hmmmm GOD help us
Alright
Abii
How long are they going to do this
Chai
Fine that way
Na waoooo
Nonsense
Wake⛰⛰⛰⛰⛰??????????????
Hmmmm..
?? hmm nawa ooooh
??????❤️????✍️????
Good
???♥️???⛷️⛷️?
Hmm ?
???????
Nice
How
Really
Hmmmmmmmmmm
E choke
Ht
I love that
Wow ✅
Nawaa oo
If come remove it nko ooo
Nawah ooo
Ok
Chia
Nice
Ok
Bad government
not all the bodies of the government is bad
Wow
Nawa oo
??????
Oooooo
Oga ooo
Hmmmm
Very terrible
Okay
Wicked set of human beings
Damn
Lovely
??????
Hmmmm
True
Hmmm
Will don ear
Okay
Hmmmm
Hmmm
Next time
Hmmmm
Hmmmm
Nice
Truly
This fuel price hike is becoming unbearable,please do something about it and fast at that
Na waoo
Surest
Good luck
Okay
Absolute true
Okey
Ok
Nitro
OK
Excited
kk
Baba Ok
Alright
Let them be fast
Oo oo oo?????????????????????????
Hmmm
Alright
Sad.
So bad
Hmmm it’s kk
Hmmmmlike hav buhari
This is very bad
Not too late
Ok
Up nigeria goverment,the best goverment in the world
Awesome
Not too late
Minister of petroleum their is no minister like you
Hmm
Good
It’s just a matter of time
Eyaa
Good
Okay
Nice
Better
Maybe
sure
Great
Okay na
Cool
Okay
Beautiful
Hmm I see
Thanks
Nawa ooo, but men go still dey ball with Benz
really
wonderful
Ok
Fantastic
Alright
Ok
This people will not kill us oo
Happy to
Nawa ooooooo can dis leader ever be loya
Good
so bad to hear
Hi
Ok
Nice
Great
Hmmm
No worries
Hmmmm
God…Dis country really needs prayer, nawa oh.
Hmmmmm
With all the hardship you’ve already caused?
Hmmmm
Hmmm
what is happening
Hmmmm
Thanks
Hmm
Exactly
Abi na
Good
K
Chia
Nice
Okay
9ice
Ok
Gud
hmmm
Nigeria need their refinary
Wow
So we never see anything
God is our strength
Imagine
Dis is not wt dey promise us
Wetin him dey wait for
No problem
Dis not wt we were promised
Cool
U is dat wn ever ember month approach dey will always want to increase fuel
Nice
Cool
Hmmmm
We are patiently waiting
Interesting facts
why can’t Nigeria build their our refinary because if more refinery were built there will be a little expenses to do and will definitely generate more income for the country
Hmmm ?
Nawa o
Where are we going in this country
Ok
Whattt
Omg
Ok
Ok
Rubbish
Na wah ooo
Alright
Oriteee..
Well we’ll
Med oooo
Too expensive fa
Ahhhh
Ok
Good
Nice one
Update
Wonderful
Well done
Better days ahead in our country
hmmm…
nice
Well done
good
kk
ok
alright
May God save us
okay
Okay
Okay
Okay great thank God
God we are on you
Ok
thank God
Hmmm
Hmmmm… There is God ooo
Hmmmm
God help us
Okay
Niger
Hey
you people should not play with us oh
Okok
Good
Nigeria just need good leadership not else
Mmmmmmmm
Fr
Ok
Light up
It is well
Ok
Hmmm
A leader with vision
Update
Okay
Hmm
Hmmm
I agree with you
Okay
Good
good
G
Okey
Cool
Seriously
Ok
Hmmmm need thing nija no see for buhari hand
Nonsense
Good
Na was oooooooo
Hmmmmmmm
Notin we’re we no go see for this country
Alright
Everything de up side down for Nigeria
It’s well
Good
Fabulous
Good
Okay
???
Nawa oooo
Diz country NAwa o
Okay
Yes
Hmmmm
Aright
Ok
™
Time to make a difference
Okay
Okay
Oga o
Good
Really
Ok
Nawa oo
Nice
nice
Reduce it
That’s a good idea
Good ?
Wow ?
I love that
Na u get am
Nice
Great
Naija nah scam
Wow
Hmmm
Ok
Kk
Hmmmm
Nigeria with problem
Good news
I pray this country becomes a better nation one day
Fine
Lovely
this country na scam
that y scammer full everywhere
Dis county Sha
Okay
Hmmmm
Okay
Ok
Kk
Ok
We hear
Ok
Good
Ok
Hmmm
Hmmmmm
Hmmmm
Ok
Ok
Alright
Alright
Waoh
Yeah
Gud nw
Alright
That’s good
Government that increase everything but never for once look at the huge salary the house of rep and senators are getting monthly to cut it down . Is that one a good government? Leaving poor citizen suffering
Good news
Nice
Hmmmm
Really
Only God will judge you all
Nah God go save us oo
Hmmmmm, nawa o
Everything has end
Hmmmm
Normal
Hmmm, see country
Haa this thing is to much for now
Nice update
Good
Good
It’s only God that can fixed this country of ours
Okay
Great
Good
God will help us
God no shame us
Yh
Hmmm
Okay
Abi
GOD is aware o let them continue
O oh
It is well
Hmmmmmmm
that’s normal
That’s good idea
Ok
Hmm
Hmm nawa ooo
It is well
You are on point.
Ok
Gooder
Mmm
God, we need your intervention in this country.
Come and heal our land(Nigeria).
Okay!
Hmm this country is in a big mess
Nice
Cool
Pity for us
Okay
Okay
Alright
Ohhhh
Kk
good
Kk
Na wa ooooo
Good
Why
Please let the price go down
No problem, God will deliver us from you one day.
Good
Ok
OK good
Good
Hmmm
Stabilize the price
May God help us
It is well
Ok
Is ok
We Don hear
Fuel price will not kill us
Ok
kk
Ok
Wahwoo
any how we must buy
Okay
okay
Any how na way
Kk
Nice to know that
Hello I’m new here
Good luck
Is this a country
We thank God oo
Oook
Fresh
Gud
Legit
Na so
God
Let go
let go
Oya now
Good ideal
Okay
The idea is very good
Nice
Good
OK o
Ok
Here we are
Great..
Thanks for the update
It too much
Dis country na wa
Ok
Ok then
Hmm
89real
Ok continue
Yeah hopefully
Ok
It too much ooo
Yes
Good
Okay
Are we still giant of Africa?
Yes oooo
Is long overdue
Do that now oo
Alright
Why not N200
Far away
Story
Ok
Ok
Good
Good
Better
Oooo
We don’t want excuse, we only need results
OK ooo
I have lost hope in this country
Quick action please
Ok
yeah
Good
Our leaders are not helping matters o
Its we
Hmmmmm this country self
Okay ooo
Ok
Okay
Any how
Any way
Seriously
Great
Ok
Oh
Story for the gods
Indeed
This country sha
P
May God help us
May God help us
Stop deceiving us
Not good at all
Please na
hmmm
Good
O
God no go ever shame us
Oh God
Abi
Which kind
Which statement
Why Nigeria
What?
What oo
Okay
Mgddg
Is bad
Ehhhh
Kk Ooooooh
On God sha
Ok
Ok
Hmm
Good
Kk
Na wa oo
OK ooh
So glad
Not impressive at all
Make una just kill us na
E go end one day
Good
Ok
Okk
Uhhhh
Ok
Okay
Ok
Wow
Good
Nice
Fantastic
Nice update
Fantastic
Nices
Comment is coming larer
It really bad
Hmmmm OK
So so bad
Hmm
Hmmm
Good
ohk nice sha
U don do harm than help for us u this apc peoples
Fgbbff
God is watching u people
this unfair
Bad things
Yes
Nice
Ohhhhh
Hmmmmm
That is good
Good
Ok
Nicely
Okay
OK
We will survive this one day
Hmm better oo
Not good
Not fair la
Good to hear
Okay but not fair at all
Oh my God
We have accept our faith
Really
We need better change in our country
It’s so outrageous
This is ridiculous
We need a change in this country
Legend
OmG!!
Nigeria have turn to upside down
Abii
OmG
This is Nigeria
Omg
Good news
Hmm
Nice!Hmm
Nice!
It is well
Na waaoohh
I will be happy if they do that
I will be happy for that?
Great
Hmmm
Good update on that
Nice one
Good
Ok
Love it
Nice talk
Yeahs
just true
?? i love that
Wow
170per litre is just too high
Dat good
Coop
That’s unfair
Great
Great???
Great news
That is good anyway
okay
Ok
Okay
Alright
Great ?????
Nice
That good by me
Good
That good by me
We move
??????????
we move
We move
Kudos
Ok
Hmmm
Ok
That’s good
Wow
We move please
Amen
Nevertheless
?????
If they can reduce it to #100 I will appreciate too o
God bless our dear country
Great job
Yap
Gr ea t
???????
Waste of time
Sure
Kaliedoscopic
Hmmm
Yh
Wow
Waw that’s cool
Thanks to climaxtrend..
Nice
Nigeria
Tiring
Okay
Very good
Good
Okay
We need help in Nigeria
Hmmm
Hmmm
Awwww
❣️❣️❣️❣️❣️❣️❣️❣️
Okay
Okay
Ok
Nice
Okay
How
Hmmmmmmmm ok
Wetin dem dey wait?
Hahahaha
Wow wow wow wow wow wow wow
No be lie 9oooooo
Where is dis country heading to
Thanks for the update
Good update
Somebarebcrazy lol ? ? ? ? ? ? ? ?
Oh no
We hear
U are right
OG???
Thanks ok
Ok thanks
Hmmmokkk
Ok
Yea
Ok thanks
Wahala
Yeah
Nice
Yeah
nice
Yet to?
Ok ooh
OK
Nice great 1
Alright
Nawa inside this country self
Ok
ok
Really
Okay oo
Why
Ok
Good
Ok
Ok
okay
Oh really
UK
Pls be fast oo ??
Make them no increase am
????????
The government should put the fuel price back too #100 naira si as to allow the poor masses buy
Wow
The story sweet me for body ?????????????✔️✔️?????☺️☺️??????
Thanks for the update
Okay sha
Okay ooooh
Minister of State for Petroleum Resources, Timipre Sylva has confessed that the federal government has not yet completedly remove fuel subsidy.
That’s nice
Good morning please find my CV
Kk
Nawa o
Good
Ok
Hmmmmm
Nice update climaxtrend