The president made the declaration just as the report of a study commissioned by the government indicated that unless fuel subsidy is scrapped, the government will not be able to attract the investment it needs to get the refineries work.
The president spoke in Abuja when he met participants of the 2012 Senior Executive Course, 34 of the National Institute for Policy and Strategic Studies, NIPSS. He said looking at what obtains in other countries, Nigeria stands to gain more if she allows market forces to determine the cost of petrol.
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