PENGASSAN Gives Conditional Backing For Petrol Subsidy Scrapping
The Senior Oil Workers Union, the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) has given a conditional backing for the proposed scrapping of petrol subsidy.
It will support ending of the subsidy if Federal Government stops its proliferate expenditure
PENGASSAN President, Festus Osifo, gave those indication in Abuja during the second PENGASSAN energy and Labour summit.
He agrees with the position of Federal Government and the organized private sector that the petrol subsidy is no longer sustainable.
Also read: N253 Subsidy Paid On Every Liter Of Imported 66 Million Liters Of Petrol Daily
According to him, the petrol subsidy which costs between N6 trillion and N7 trillion this year has put the national economy in a difficult situation.
The outgoing Buhari administration has projected ending the petrol subsidy by June, 2023, a day after the expiration of its tenure.