FG may remove fuel and kerosene subsidies

Date: 19-03-2014 2:37 pm (10 years ago) | Author: Afolayon Masofunmomi
- at 19-03-2014 02:37 PM (10 years ago)
(f)

The Minister of Petroleum Resources, Dieziani Alison-Madueke yesterday gave a hint of plans by the Federal Government to remove subsidies being paid on Petrol and Kerosene products. The Minister gave the hint while speaking at the Nigerian Oil & Gas Conference which took place in Abuja
 
While addressing the delegates, Alison-Madueke said subsidy being paid to marketers for petrol and kerosene was no longer sustainable and was only beneficial to the rich in the society.
"The continued regulation of the downstream sector has its positive and negative impacts on the economy. But the negative effect is more than the positive. The subsidy policy cannot be sustained any longer.This is because the subsidy payment is not benefiting the poor it is targeting; rather, it is benefiting the rich. The industry needs to move to next level by increasing revenue and curbing oil theft and pipeline vandalism.Without belabouring the point, we are all aware that the government has to deregulate the downstream sector. Continuing regulation, we all are aware, has negative effects. It is basically unsustainable, it discourages investment, and principally, it benefits the rich, not the masses in the society that we intend to reach in the first place" The minister said.
Analyst however say if petrol subsidy is removed, Nigerians would have to pay more for both products. Petrol for instance would rise to N144.66 for a litre, which is the landing cost of a refined litre as against the N97 its been sold for now at filling stations while Kerosene would go as high as N154.36 per litre, N138.87 as landing cost and N15.49 for distrubution margin, suming up to N154.36 it would be sold for
BREAKING CELEBRITIES SHOCKING NEWS

Posted: at 19-03-2014 02:37 PM (10 years ago) | Upcoming
- proly at 19-03-2014 04:00 PM (10 years ago)
(f)
cool
Posted: at 19-03-2014 04:00 PM (10 years ago) | Hero
Reply
- iamDonc at 19-03-2014 04:42 PM (10 years ago)
(m)
Again!!!! where was the money gotten from the first removal spent?? maybe your village or bank account!!! who is fooling who
Posted: at 19-03-2014 04:42 PM (10 years ago) | Upcoming
Reply
- dickman2 at 19-03-2014 04:54 PM (10 years ago)
(m)
this woman..
Posted: at 19-03-2014 04:54 PM (10 years ago) | Addicted Hero
Reply
- osamabinladin at 19-03-2014 04:59 PM (10 years ago)
(m)
 Roll Eyes
Posted: at 19-03-2014 04:59 PM (10 years ago) | Hero
Reply
- deboalabi262 at 19-03-2014 05:03 PM (10 years ago)
(m)
Naija government dey give poor people so much hardships. Time will come when the masses will react erratically/chaotically for their rights...... Huh?
Posted: at 19-03-2014 05:03 PM (10 years ago) | Hero
Reply
- Adbb at 19-03-2014 09:42 PM (10 years ago)
(m)
soon govt will deregulate educ then state they might as well deregulate govt
Posted: at 19-03-2014 09:42 PM (10 years ago) | Upcoming
Reply
- lanudja at 19-03-2014 10:06 PM (10 years ago)
(f)
What of d one wey dem don remove b4? Who dey benefit frm am apart frm only dem.... Who don benefit frm d SURE-P & whr d 12b wey e stil dey mis til nw? Ona go dey take d smal tin wey d poor dey benefit frm dem. Idiot ppl.
Posted: at 19-03-2014 10:06 PM (10 years ago) | Hero
Reply
- osarobo62 at 19-03-2014 10:25 PM (10 years ago)
(m)
why not remove the subsidy from the air people breathe. Angry. maybe that would satisfy the govt.
Posted: at 19-03-2014 10:25 PM (10 years ago) | Hero
Reply
- paulohking at 19-03-2014 11:21 PM (10 years ago)
(m)
get lost motherfucckers
Posted: at 19-03-2014 11:21 PM (10 years ago) | Hero
Reply
- Illegality at 20-03-2014 12:55 AM (10 years ago)
(m)
Make una  remember say God dey ooooo.
Posted: at 20-03-2014 12:55 AM (10 years ago) | Newbie
Reply
- benbellabiz at 20-03-2014 01:29 AM (10 years ago)
(m)
forget all these long grammar, make una remover am sharp, sharp.
Posted: at 20-03-2014 01:29 AM (10 years ago) | Gistmaniac
Reply
- DrSoba at 20-03-2014 04:50 AM (10 years ago)
(m)
I use to think that government is for the people but in Nigeria government is for themselves.
Posted: at 20-03-2014 04:50 AM (10 years ago) | Gistmaniac
Reply
- dlimelite at 21-03-2014 05:47 AM (10 years ago)
(f)
hmmmm
Posted: at 21-03-2014 05:47 AM (10 years ago) | Hero
Reply
- bishopdon at 26-03-2014 03:13 PM (10 years ago)
(m)
hw have d masses benefited from spending more.
Posted: at 26-03-2014 03:13 PM (10 years ago) | Upcoming
Reply
- Fertymor at 27-03-2014 04:27 PM (10 years ago)
(f)
PLEASE MA, DO THAT Oooo... AND GOD WILL REWARD YOU IF YOU DO IT
Posted: at 27-03-2014 04:27 PM (10 years ago) | Gistmaniac
Reply
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