Minister of State for Petroleum Resources, Chief Timipre Sylva has come out to say that the Federal Government cannot pay subsidy right now.
He revealed this recently while speaking with to newsmen in Abuja.
According to him, since the introduction of the deregulation policy, Nigeria has saved about N1 trillion, therefore it is a wise decision.
He added that the Federal Government has wrapped plans to merge the Petroleum Products Pricing Regulatory Agency, PPPRA, and the Petroleum Equalisation Fund, PEF, into one agency called The Authority.
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