Nigerian Govt Removes Subsidy, Fuel To Sell For N145/Litre

Vice-President Yemi Osinbajo yesterday has said that the government will have to take tough decisions on the desirability of retaining fuel subsidies, adding that it had become necessary to remove them.
His statement coincided with a remark by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who confirmed that the government would in the next few days unveil a new policy to address the subsidy issue in the country.
Osinbajo had said: “No matter how we slice it, we are in economic times that are
challenging, but they provide us with some of the best opportunities for making a real difference in our economic life.
“I think that we are at a point that a lot has been said about subsidies and what to do with subsidies. I think we are at a point where we must make many difficult decisions and make very tough choices.
“But I think the Nigerian people are prepared for all what is required and all it would take to make a real difference.
“In no way can a country make the kind of progress we expect it to make without being able to ensure that in public life our finance system is transparent and would ensure that there is accountability.
“Our Ministry of Finance has been putting in place a system that would assure accountability. It would ensure that public funds are accounted for and that the country is not exposed to some of the kinds of huge corruption that we had seen over the past few years.”