The Minister of State for Petroleum Resources, Timipre Sylva, has said the Federal Government is not in the best position to manage the petroleum refineries.
Sylva said government is going to hands-off the refineries and engage professional managers to take charge of them.
Speaking during a TV interview monitored in Lagos, the Minister said it would be proper for government to make sure that the refineries are working before taking appropriate decisions.
However; Timipre Sylva said the federal government does not believe that the refineries need to be sold in their present condition.
On the issue of petrol subsidy; the Minister of State for Petroleum, Timipre Sylva, said government has not set a date for petrol subsidy removal.