Stats: 3,189,819 members, 7,938,411 topics. Date: Tuesday, 03 September 2024 at 04:29 AM |
Nairaland Forum / Nairaland / General / Politics / FG Saves $400M From Fuel Subsidy Removal - Mele Kyari (252 Views)
Subsidy Removal: FG Saves ₦400 Billion In Four Weeks / My Friend Got Tired Making Money From Fuel Subsidy, Begged President To Stop It / Fuel Subsidy removal: Mele Kyari Silent On take-off Date After Meeting Tinubu (2) (3) (4)
FG Saves $400M From Fuel Subsidy Removal - Mele Kyari by Faithdamy(m): 1:24pm On Jul 26, 2020 |
The Federal government has saved $400 million through fuel subsidy removal from the 2020 budget. The Group managing director of the Nigerian National Petroleum Corporation, NNPC, reveal this in an interview. He said it is unlikely that fuel subsidy will return despite the rising crude oil prices. He said: MY PERSONAL VIEW IS THAT SUBSIDY SHOULD BE REMOVED, AND THE FUNDS DEPLOYED TO AREAS OF THE ECONOMY PARTICULARLY ROAD INFRASTRUCTURE AND EDUCATION THAT NEED FUNDS. FUEL SUBSIDY IS A MISALLOCATION OF RESOURCES AND IT BENEFITS MAINLY PEOPLE WHO DON’T NEED IT; THE RICH. WHAT WE NEED IS AN INVESTMENT THAT UPGRADES THE GENERAL GOOD OF THE SOCIETY AND PROVIDES ACCESS AND OPPORTUNITY FOR SOCIAL MOBILITY FOR THE POOR. I DO NOT FORESEE THE RETURN OF SUBSIDY WHEN OIL PRICE REBOUNDS. JUST BY REMOVING SUBSIDY IN THE 2020 BUDGET, THE NATION IS ABLE TO SAVE OVER $400MILLION. THE SAVINGS WILL BETTER DEPLOYED TO EDUCATION OR UPGRADE OF THE CRITICAL INFRASTRUCTURE IN THE COUNTRY. SOURCE: https://freshreporters.com/fg-saves-400m-from-fuel-subsidy-removal-mele-kyari/ 1 Like 2 Shares
|
Re: FG Saves $400M From Fuel Subsidy Removal - Mele Kyari by Freshtechs: 1:28pm On Jul 26, 2020 |
Faithdamy:Awa money oooooooo 1 Like 2 Shares |
Re: FG Saves $400M From Fuel Subsidy Removal - Mele Kyari by LibertyRep: 1:32pm On Jul 26, 2020 |
Why bothering us with the news when the saved money will still be frittered away? No one takes you all serious again until you give us functional refineries 1 Like |
Re: FG Saves $400M From Fuel Subsidy Removal - Mele Kyari by hisgrace090: 1:49pm On Jul 26, 2020 |
Tomorrow they'll denied this too. |
Re: FG Saves $400M From Fuel Subsidy Removal - Mele Kyari by surgical: 1:59pm On Jul 26, 2020 |
Abeg there is no any subsidy,just say increased revenue from price increase of petroleum products simple The ignorant masses are just paying for the inefficiency of the government Why can't they provide functional refineries so the country can benefit from the comparative advantage of having crude,with the attendant increase in employment and reduction in price of petroleum products providing multiplier effect on the market due to lower cost of production and transportation. They will be repeating the same lies because they are benefiting and also people are not challenging their lies |
Re: FG Saves $400M From Fuel Subsidy Removal - Mele Kyari by baralatie(m): 3:44pm On Jul 26, 2020 |
ok |
(1) (Reply)
Ondo 2020: Jegede Receives Certificate Of Return / Gas Explosion Kills Many In Lagos / Àjànréte By Bayo Ododo
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 10 |