Opposed to widespread understanding that the federal government has expunged oil subsidy from the Nigerian oil and gas system, Vice President, Yemi Osinbajo refuted the claim, saying it was not true.

Osinbajo said that what the government did was to withdraw the monopoly hitherto enjoyed by the Nigerian National Petroleum Corporation, NNPC to allow free market sales. He stated that “at $40 a barrel, there isn’t much of a subsidy to remove.” In a statement titled “The Fuel Pricing Debate: Our story”, personally signed by him, the Vice President said that the decision to adopt a new measure was essentially informed by the non-availability of foreign exchange for the independent marketers to import fuel.

His Statement: “The Fuel Pricing Debate: Our Story “Fellow Citizens: “I have read the various observations about the fuel pricing regime and the attendant issues generated. All certainly have strong points. “The most important issue, of course, is how to shield the poor from the worst effects of the [http://www.latestinfonews.com/vp-osinabjo-spits-fire-at-n145-per-litre-fg-has-not-removed-subsidy]Click Here To Continue[/url]

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