Why Buhari may not remove fuel subsidy just yet

  President Muhammadu Buhari, says that his government may not yet remove the petroleum subsidy.

Buhari stated that the reasons given so far for its removal did not seem reasonable.

The President said that the absence of subsidy on petroleum products will have adverse effect on the poor and jobless Nigerians.

He said this on Monday after getting a briefing from the Ministry of Petroleum Resources, the Nigerian National Petroleum Corporation (NNPC) and other agencies in the oil sector.

President Buhari said that he will carefully review all the submissions he had received on the need to remove the subsidies.

“I have received many literature on the need to remove subsidies, but much of it has no depth.

“When you touch the price of petroleum products, that has the effect of triggering price rises on transportation, food and rents.  That is for those who earn salaries, but there are many who are jobless and will be affected by it.”

“We have to go back to the good old days of transparency and accountability,” the President added.

courtesy of: ynaija