Timipre Silva, the Minister of State for Petroleum, has revealed that the Federal Government has no immediate plan to remove fuel subsidy.
He said this on Thursday at a joint session of National Assembly Committees overseeing the oil sector.
According to him, the economy is hard and the government is not about to remove subsidy and heap another issue of petroleum price hike on Nigerians.
“It is not on the cards at all, we are just looking at how we can manage it,” he said.
Silva maintained that the government finds it hard to believe that only Nigerians consume 60 million litres of fuel daily, adding that neighbours are suspected to be exploiting the cheap price in Nigeria.
He further stated that the benefits of oil producing states should not be over looked. He mentioned Bauchi State as one that would become oil-producing in a few years.
The minister indicated that fixing of refineries will go a long way in reducing subsidy cost. He also mentioned that actions are being taken towards that.