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Benefit Of Falling Crude Oil Price - Politics - Nairaland

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Benefit Of Falling Crude Oil Price by yungmin: 12:08am On Dec 25, 2014
the drastic fall in crude oil price to me is a blessing in disguise. firstly, it would rekindle govt.'s effort in diversification of our economy especially through agriculture like we can see GEJ's team doing. Secondly and more importantly for me, it would be an automatic means to get rid of the scam called fuel subsidy. Could you imagine that the Dangotes, Tony Elumelu, Otedolas, Adenugas, Ibrus etc enjoy more of the subsidy being paid by government than a poor man like me? How is that so? each of these billionaires have as a minimum 2 SUVs in their homes which consumes more of the fuel that is being subsidized. They decieved the poor people in 2012 to fight for their course by making them believe that fuel subsidy removal was an affront on them. as for the price of food items and other services which would go up when subsidy is removed, the burden of it would be equitably shared between the rich and the poor so, let support it to be removed.

I could hear one of NUPENG & PENGASSON's agitation in the three days warning strike was that they expected pump price of petrol to drop since global crude oil price has also dropped. The agitation however sound it seems is not necessary. I smell the unions are working for the cabals involved in subsidy deals as they have always done and not for the masses they claim.

Nevertheless, the reality on ground as reports have it is that govt's spending on subsidy has reduced to about 7% and I'm happy for that. fuel subsidy is like a corperate injustice on the poor in the society. so, my simple advice is that Nigerians especially the poor should brace up and not join the rich in fighting for payment of fuel subsidy should there be an increase in fuel price due to later increase in global crude oil prices

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