Governor of River State, in Nigeria's South-South region, Mr. Rotimi Amaechi has introduced a N4 subsidy on fuel sold in his state.

Gov. Amaechi says the state government has reached an agreement with independent marketers to cut the spiked price of N141 down to N137.

The Rivers State government also says that it would subsidise transport in the state and that the state government would ensure security for all petrol tankers supplying fuel to filling stations in the state.

Governor Amaechi adds that the state government has reached an agreement with the National Union of Road Transport Workers to peg fares between N50 and N100 on major intra-city routes within the state.

http://www.channelstv.com/global/news_details.php?nid=30974&cat=Business

N4 is laughable.

Actually a good idea, these are part of the pre-work that should have been included in the entire policy before it was rolled out. Each states and local governments could have joined in the exercise rather than leaving the load for GEJ to carry while they wait to share the money.

THIS IS MY CONTRIBUTION.WHAT DO YOU THINK?
Olisa Agbakoba(SAN) was suggesting other ways of raising money for the subsidy.
The government should listen to him,if it works out for the next 2 yrs,
the refineries must have been working by then.I believe the actual cost of the
subsidy cannot be more than $3billion if it is monitored properly and the issue of  
corruption dealth with.If plan A does not work,use plan b.Each state can give
3billion naira from their security vote for one year as contribution. stop all long term
contracts immediately.The govt can easily raise 2billion dollars from there,then print
more money to cover the balance,It may cause inflation but its just for a short term.
This is a 2yr emergency measure to subsidise the fuel before the refineries are privatised
and working.All the state governors should tighten their belt to save the country.
There must be other ways of raising money.Jonathan we are praying for you to succeed.

it was the same amachi that was championing subsidy must go