The Federal Government has proposed an extension of the plan to remove petrol subsidy by eighteen months.
During the period, the government plans to send a proposal to the National Assembly for an amendment of the Petroleum Industry Act.
The Minister of State for Petroleum Resources, Timipre Sylva, made the announcement during a media briefing at the Presidential Villa in Abuja.
Sylva said the extension would all stakeholders more time to ensure that the implementation is done in a way that would not worsen the economic crisis in the country.