President Muhammedu Buhari has approved the suspension of the removal of fuel subsidy for 18 months.
Minister of State for Petroleum Resources, Mr Timipre Sylva, said this while briefing State House correspondents in Abuja Tuesday.
The minister said the federal government is considering an 18-months extension to National Assembly for the implementation of the Petroleum Industry Act (PIA) taking effect February this year.
President Buhari had on August 16, 2021 signed the Petroleum Industry Bill into law, which was passed by the Senate and the House of Representatives in July 2021.
The PIA is expected to grow investors’ confidence in Nigeria’s Petroleum Industry and create more employment opportunities for the populace in the host communities.
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