Deregulation won't affect kerosene 'FG

THE Federal Government, on Monday,said kerosene would be exempted from the planned deregulation of petroleum sector, which would take effect from January 2012.Minister of Petroleum Resoures, Mrs Diezani Allinson Madueke, who disclosed this during an interactve session with the Senate Committee on Gas, said the planned removal of fuel subsidy would not affect kerosene.She said the Power Holding Company of Nigeria (PHCN) owed gas suppliers about N9 billion.The minister disclosed this at an interactive session, adding that details were already being discussed at the presidency.According to her, even if the government had concluded that fuel subsidy was not totally efficient, it could not go ahead to remove subsidy on kerosene.Madueke added that the passage of the Petroleum Industry Bill (PIB) would enhance performance of the gas sector, adding that the legislative framework to move the sector forward was embedded in the bill.
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