Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that subsidy on Premium Motor Spirit (PMS), otherwise known as petrol, currently stands at N1.4 trillion. Kachikwu, who spoke yesterday at workshop on Liquefied Petroleum Gas (LPG), a commodity government is targeting to ease pressure on petrol, said the Federal Government would in the next couple of months unveil a roadmap that would address infrastructure deficits in the oil and gas sector. He said there was need for policies that would address challenges militating against LPG so as to allow usage in domestic market. The minister, who stressed the need for the country to save such money, said the country needed to move away from over-dependence on petrol and prioritise greener sources of energy. It is taking away over N1.4 trillion under recovery.

Source: The Guardian April 06, 2018 04:30 UTC