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Benefits Of Fuel Subsidy Removal And What Govt Should Do - Politics - Nairaland

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Benefits Of Fuel Subsidy Removal And What Govt Should Do by Goldcon: 10:43pm On Jan 09, 2012
I am not an economist but I know that a system that is subsidizing consumption without empowering production will DEFINITELY collapse. That is exactly what we are doing as fuel subsidy. You cant be subsidizing consumption and expect people to make efforts to produce. I don’t know all the details and what exactly should be done economically but if this is an economic challenge that requires and economic approach, then I strongly have faith in the judgment and prescription of a team make up of world renowned experts like Okonjo Iweala, Sanusi Lamido Sanusi, Aganga including Maduekwe. As far as I know they are about the best team Nigeria can put together at the moment. If another person were the president I wonder if we could have a better team setup. I, you and everyone will eagerly swallow A BITTER PILL provided it was prescribed by a qualified Physician.

Nigerians want a change but are not ready to MAKE a change. When you expect change to occur on its own, I see that as evolution; which takes a very, very long time and you can hardly determine the result.

Maybe the Government didn’t handle the process well but what do you think are the benefits of this subsidy removal and what government should do.

1. Nigerians (some of them have refineries abroad) and other investors will now build refineries here which will lead to massive employment and product availability.

2. Government should “subsidize” the building of refineries through loans, tax reliefs, easy license acquisition process etc.

3. Construct high-speed cargo and executive passenger railways particularly from Lagos to east.

Please, let’s have your view on the benefits of subsidy removal and what government should.

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