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Nairaland Forum / Nairaland / General / Politics / JUST IN: FG Considers Removing Fuel Subsidy (913 Views)
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JUST IN: FG Considers Removing Fuel Subsidy by IamHeWrites: 11:45am On Apr 13, 2019 |
By Ogochukwu Isioma The Federal Government says it will consider removing subsidies on Premium Motor Spirit (PMS), also known as petrol, fuel or gasoline. Minister of Finance, Zainab Ahmed, made the disclosure on Thursday while speaking at a meeting of the IMF/World Bank. She was reacting to the advice by the International Monetary Fund (IMF) to Nigeria and other countries who still subsidise fuel to stop doing so. IGBERE TV recalls that the Managing Director of IMF, Christine Lagarde, had called on the Federal Government to remove fuel subsidy, saying it is the right thing to do. Addressing a press conference on Thursday at the on-going annual joint meetings with the World Bank in Washington DC, the IMF boss said with the low revenue mobilisation that existed in Nigeria in terms of tax to gross domestic product, it was important for the country to remove fuel subsidy to boost revenue and improve government's spending. By so doing, she opined, the country would be able to move funds into improving health, education, and infrastructure for the people. While describing the IMF’s advice to the Federal Government on the need to remove fuel subsidy as a good recommendation, the Minister of Finance said, “It’s good advice, but we have to implement it in a way that will be successful as well as sustainable. “We are not in the position to wake up one night and just remove subsidy. We have to educate the people, we have to show the Nigerian citizens what the replacement for this subsidy will be. “So, we have a lot of work to do because subsidy removal has to be gradual and the public has to be well informed.” SOURCE: http://igberetvnews.com/612092/just-in-fg-considers-removing-fuel-subsidy/ Cc: Lalasticlala, Mynd44, OAM4J
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Re: JUST IN: FG Considers Removing Fuel Subsidy by Factgist: 11:46am On Apr 13, 2019 |
Give me Ngozi Okonjo Iweala |
Re: JUST IN: FG Considers Removing Fuel Subsidy by Nobody: 11:48am On Apr 13, 2019 |
Here is why subsidy should have gone completely www.nairaland.com/attachments/6466543_mainqimgd76a36454814284cf5316e67a4f4fb10_jpege351e27435b03a3ed7c2e2a83a702ffa The above chart was made in 2015 when price of fuel was N87. Now it is N145, AND all the other countries in the chart are still charging higher. Niger charges 397, and Benin 298 for example. This makes it easier for smugglers to do their job...leading to inflation of the amount of fuel used, and the subsidy paid keeps on going up.... We are in essence paying subsidy for ourselves and other African countries. |
Re: JUST IN: FG Considers Removing Fuel Subsidy by DamolaIbrahim: 11:50am On Apr 13, 2019 |
Next level hunger loading. Thank God say I don't see reason to increase the price of my goods for warehouse. 1 Like 1 Share |
Re: JUST IN: FG Considers Removing Fuel Subsidy by Nobody: 11:55am On Apr 13, 2019 |
Factgist: Who, if she was in charge, would have supported subsidy removal totally. The problem you have is that you do not want to pay higher for fuel. And like your opponents did against GEJ in 2012...forcing him to shelve an idea whose time had come...you are using the high prices of subsidy removal as a weapon against PMB. At the end of the day, the subsidy remains, the cabals go home satisfied...all because in 2012 APC members, and in 2019 PDP members were interested in politics rather than the good of their country 1 Like |
Re: JUST IN: FG Considers Removing Fuel Subsidy by AmadiAba: 12:30pm On Apr 13, 2019 |
Hmmmm |
Re: JUST IN: FG Considers Removing Fuel Subsidy by slimfit1(m): 12:37pm On Apr 13, 2019 |
They should only subsidies food trucks. |
Re: JUST IN: FG Considers Removing Fuel Subsidy by Nobody: 12:55pm On Apr 13, 2019 |
When fuel is gradually going extinct.. |
Re: JUST IN: FG Considers Removing Fuel Subsidy by Konki: 2:33pm On Apr 13, 2019 |
tactius: How many of those comparative countries export crude same volume as Nigeria? |
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