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Nairaland Forum / Nairaland / General / Politics / NNPC Advocates Complete Fuel Subsidy Removal (576 Views)
Subsidy Removal: Nigerians Gear Up For Showdown Against Buhari / Oil Subsidy Removal, Booby Trap For Buhari – Bamidele / NNPC Pushes For Fuel Subsidy Removal (2) (3) (4)
NNPC Advocates Complete Fuel Subsidy Removal by clara472: 9:42pm On Apr 23, 2015 |
The Nigerian National Petroleum Corporation on Thursday, maintained that the continued payment of subsidy on petrol was not sustainable and therefore strongly advocated for it’s complete removal. Subsidy is the difference between the Expected Open Market Price of fuel and the actual or retail price that is paid by consumers for the product at petrol stations as regulated by the Department of Petroleum Resources. Mr. Timothy Okon, The Group Coordinator, Corporate Strategy and Planning, NNPC, explained that fluctuation in the prices of crude oil often creates fiscal instability in the country which in turn impacts negatively on Nigeria’s revenue. This is because government does not control prices of crude oil. It will be recalled that a massive nationwide protests and industrial actions greeted the announcement of complete withdrawal of subsidy on petrol in January 2012. PS: This article is a summarized version of the original news Source: http://thesummary.com.ng/index.php/component/k2/item/478-nnpc-advocates-complete-fuel-subsidy-removal |
Re: NNPC Advocates Complete Fuel Subsidy Removal by okpamson15(m): 9:50pm On Apr 23, 2015 |
Subsidy this subsidy that, very soon our i make one naira = one dolar wil sterbilize the whole tin. |
Re: NNPC Advocates Complete Fuel Subsidy Removal by Habayomie(m): 9:53pm On Apr 23, 2015 |
he is not thinking of the poor masses |
Re: NNPC Advocates Complete Fuel Subsidy Removal by iphanyiuma(m): 9:54pm On Apr 23, 2015 |
Abeg how mush be fuel now |
Re: NNPC Advocates Complete Fuel Subsidy Removal by imbless: 10:11pm On Apr 23, 2015 |
. |
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