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Governor Nasir El-Rufai on Thursday disclosed that the payment of between N70 billion and N210 billion monthly on fuel subsidy is unsustainable.
Governor El-Rufai made the observation while presenting the report on the appropriate pricing of Premium Motor Spirit (PMS) otherwise called petrol, during the 30th teleconference meeting of the Nigeria Governors’ Forum (NGF) chaired by Governor Kayode Fayemi.
While calling for full deregulation of the downstream of the petroleum industry, Governor El-Rufai noted that the payment of subsidy ranging from N70 billion to N210 billion monthly to keep the PMS price at N162 per litre is completely unsustainable.