Returning Subsidy will cause Petrol scarcity – Timipre Sylva

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Minister of State for Petroleum Resources, Timipre Sylva has stated that the return of fuel subsidy will lead to scarcity of fuel in the country.

The Federal government recently announced the stoppage of fuel subsidy which has resulted in a hike in the price of petroleum.

Speaking on a live TV program on Tuesday, the minister explained that with the loss of over 60 percent of government revenue, it was impossible to continue with the subsidy regime, which he said was drying up government earnings.

Sylva also pointed out that the deregulation of the sector is the only way to draw investment from the private sector.

19 Comments

  1. Let me tell you, we can absorb the pains of electricity tariff hike with commensurate increase in service, but fuel, no we want a reversal, afterall, crude is produced in Nigeria.

  2. Sir your talking as if there has been fuel before. There has been scarcity of Oil in this country for like God knows when, so no dey talk like say all has been well in this country whereas you know the condition of the society and its inhabitants.

  3. Nobody asks you not to deregulate but what are the palliative measures you have put in place for the masses before deregulation, you need to put some palliative for the masses before you can do so.

  4. From this deregulation you might mean well for the masses but the way you handled it is inhumane, at the time we are facing ravaging in COVID-19 pandemic and not coming out from it, you still went ahead to in the increase in Premium motor spirit, you should reverse it first.

  5. Tell that story to yourself. Even kindergarten pupils now know your antics. You people always cook up lies and tell us
    I know you will like to create artificial scarcity so that you will have an excuse for people to say ‘ remove the subsidy’
    A product we have in our ground here, you want to use to suffer us
    It is supposed to be in abundance here and also very very cheap

  6. What the federal government did was callous, how would they do that without calling for the meeting of the stake holders, things are not done like that. If you are talking about minimum wage some states government have not started negotiation not to talk of paying then what are you saying? The reversal is the best option for now.

  7. There’s nothing new to us in this country again, anything you bring to us is not new. What I only know is one thing, let this useless President Muhammadu buhari carry his yeye comot.

  8. All our leaders na shafts… May God Almighty blessed us with good leaders for there better us the innocent civilians who always suffer from there incompetent and corrupted ways leadership

  9. Must you always suffer the masses and cover it wuth big grammer
    The already existing wealth of the country, you people are not managing it well. The people in government loot them in billions as they like, and you turn back to increase the price of fuel telling us cock and bull stories

  10. It’s what Buhari told us we will believe. He said there is nothing like subsidy. If so, the hike in fuel pump is only a plot to increase the government revenue.

  11. See there’s nothing you can say to us to decieve us again, you are both thief. Both you minister and your boss president muhammadu buhari.

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