Federal govt counters World Bank’s claim, says subsidy gone for good… 

The federal government has said contrary to claims by the World Bank that the government is still paying subsidy on petrol, that the era of petrol subsidy is “gone for good”.

Minister of Information and National Orientation, Mohammed Idris, while speaking in an interview  on Thursday morning, said President Bola Tinubu made it clear from his first day in office that his government would not sustain the payment of subsidy on petrol.

The minister said the subsidy removal had translated to increased revenue accruing to the federation account.

It was reported that World Bank’s lead economist for Nigeria, Alex Sienaert had on Wednesday said that current fuel prices in Nigeria were not cost-reflective and that the Federal Government might still be paying subsidy on petrol.

He said Nigerians should be paying about N750 per litre as against the current price of N650 in parts of the country.

But speaking on the issue, the minister stressed that government was no longer paying any subsidy on petrol.