Following the recent removal of subsidy from the pump price of premium motor spirit, the Federal Government will be saving over N1.4 trillion annually. The Minister of State for Petroleum Resources, Ibe Kachikwu, who disclosed this when he visited the Nigerian Content Development and Monitoring Board (NCDMB) in Yenagoa, Bayelsa, explained that the deregulation policy has also re-awakened the downstream sector and will help the nation become a net exporter of petroleum products in a few years.
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