₦airaland Forum

The Vice President for Sustainable Development, World Bank, Laura Tuck, who spoke at the ongoing World Circular Economic Forum in Helsinki, Finland , stated that Nigeria’s fuel subsidy is not helping the poor. Tuck who spoke on the theme ‘Scale it up! The Next Era of the Circular Economy', revealed that the the continuous payment of huge sums of money as subsidies on fossil fuels has worsened resources consumption and increased greenhouse emission and pollution.

“Strong evidence shows that a lot of countries put subsidy on fossil fuels, and these subsidies are insufficient to support the poor. They aggravate resources consumption, pollution and greenhouse gas. Globally, subsidies on fossil fuels are huge,” she added.

Tuck said, “We cannot achieve a circular economy if we continue to make policies that give incentives to overuse of resources. Circularity means we use fewer non-renewable energy like fossil fuels and carefully manage our renewable resources like Timber and fisheries, among others.”


https://unclesuru.com/2019/06/04/nigerias-fuel-subsidy-not-helping-the-poor-world-bank/


lalasticlala, seun, mynd44, dominique

hear this number of times.

We not only need to remove subsidy we also need to tax petroleum products

nothing in nigeria is ever designed, programmed or initiated to help or favour the poor.

the rich gets richer...

am worried 9ja still depend on crude oil, when the world would almost neglect it from 2030/2040

Sheddy22:
Read below it

you are a big fool, why don't you use 1 million and play those your sure games.. you are constituting a nuissance here...

Every so called poverty reduction policy and policies supposedly aimed at d masses actually enriches d elites d more... D subsidy was hijacked by those elites under previous govts. Under dis govt it was hijacked by d govt. D govt itself is a scam

Some people will just sit inside AC and started spew shaft. Tell me which govt police originally aimed at the poor?