The National President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, on Friday, said the Nigerian government has restored subsidy on petrol, despite the official government policy of breaking with the subsidy regime since May.
Mr Osifo, who is also the president of the Trade Union Congress (TUC), one of Nigeria’s two largest worker’s union coalitions, disclosed this on Friday while featuring on a Channels Television programme, Politics Today.
“The government has to come clean. In reality today, there is subsidy because as of when the earlier price was determined, the price of crude in the international market was somewhere around less than $80 to a barrel. But today, it has moved to about $93/94 per barrel for Brent crude. So, because it has moved, then the price (of petrol) also needed to move,” Mr Osifo said.
