"Increase In Fuel Price & Electricity Will Benefit Nigerians In The Long Run" -Lai Mohammed

Published On: September 27, 2020, 5:38 pm (1 month ago)
Author: onuigbo felicia
-- (f) at 27-09-2020 05:38 PM

(11141 | Hero)


The minister of information and culture, Lai Mohammed, has said, the increase in fuel price and electricity tariff will benefit ordinary Nigerians in the long run.

Quote
The minister, said this on Saturday, September 26, during a press conference in Lagos State.
“I want to assure Nigerians that the government is not insensitive to their plight. As a matter of fact, the full deregulation of the petroleum sector and the service-based electricity tariff adjustment will, in the long run, benefit the ordinary people.

Ordinary citizens are not the beneficiaries of the subsidy on petroleum products that has lasted for years. Between 2006 and 2019, a total of N10.4 trillion was spent on fuel subsidy, most of which went to fat cats who either collected subsidy for products they didn’t import or diverted the products to neighbouring countries, where prices are much higher.

Instead of subsidy, ordinary Nigerians were subjected to scarcity of petroleum products. They endured incessant long queues and paid higher to get the products, thus making the subsidy ineffectual.

Apart from that, the truth is that the government can no longer afford the cost of subsidy, especially under the prevailing economic conditions.

Revenues and foreign exchange earnings by the government have fallen by almost 60 percent, due to the downturn in the fortunes of the oil sector. And there is no provision for subsidy in the revised 2020 budget. So where will the subsidy money come from? Remember that despite the massive fall in revenues, the government still has to sustain expenditures, especially on salaries and capital projects,”
he said.

On the hike in electricity tariff, Mohammed said Nigerians will pay for the increment when there is an improvement in power distribution.


-- dopygenius Online (m) at 27-09-2020 05:55 PM
(4907 | Gistmaniac)

Oga forget all these nonsense u dey talk
Where will the money come from
What a dumbass questions
The money will come from the ones you and your cohorts has looted....Bloody bunch of liars
Reply
-- gogoman (m) at 27-09-2020 09:58 PM
(32918 | Addicted Hero)

keep lying to your soul
Reply
-- Lisabi (m) at 28-09-2020 12:15 AM
(764 | Upcoming)

This man need to take to Yaba by left
Reply
-- Lisabi (m) at 28-09-2020 12:15 AM
(764 | Upcoming)

This man need to take to Yaba by left
Reply
-- abcdqwer (m) at 28-09-2020 01:30 AM
(428 | Upcoming)

Look at he picture very well as see the way he do his mouth, you will know truly this man is liar Mohammed.
Reply
-- kacylee (f) at 28-09-2020 10:06 AM
(30109 | Addicted Hero)

tahhhhh tahhhh!!!! we know u nah oga lie lie.. this is another lie u have told

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