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Returning Subsidy Will Cause Petrol Scarcity – Sylva

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

Recall that the Federal government recently announced the stoppage of fuel subsidy which later resulted in a hike 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.

SOURCE: InformationNigeria