Monday, 11 May 2015

Remove fuel subsidy now

The outgoing administration encouraged fuel subsidy and it has grown into a monstrous corrupt problem that it cannot manage! In the last three weeks, we have bought a litre of petrol between N130 and N160 which is what it may be without subsidy. Nigerians should be ready to sacrifice in the short run before the mess is cleared. President-elect Muhammadu Buhari should just leave it as it is, that is, no more subsidy, and clear the subsidy mess left behind.

The importers can be allowed to continue to import petrol and sell at a cost. Arrangements can then be made to get refined petrol in exchange for crude oil while efforts are made to build more refineries in the the next two to three years. There are enough things to do for the new administration that removing subsidy problem will help.
Source: punchng