So, we all pay subsidies and that is what the President removed. So, instead of going to these private pockets, Nigerian private pockets, the oil magnates, those who operate the industry, the President harvested the money and ploughed it into the treasury of the government. And that’s why most states are getting twice or even three times of what they used to get. So, you can see that money has gone into state treasuries, local government treasuries and also the national treasury and this money hitherto was going into private pockets. That’s the explanation I wanted every Nigerian to understand. But the subsidy regime now we are paying it’s still there. It may not be adequate, probably if it had been adequate, maybe the prices would have been forced down, but that which was removed was the one that was stolen money.
Browsing: petrol subsidy
The House of Representatives Committee on Petroleum Resources (Downstream), says it plans to conduct a comprehensive audit of the subsidy regime of the Premium Motor Spirit (PMS) in the country.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Thursday advised the Federal Government to remove subsidy on petrol in…
The governors of the 36 states in Nigeria, under the umbrella of the Nigeria Governors’ Forum (NGF) will meet on…