F.G Announces Another Fuel Subsidy Removal; Is It The Right Move For Our Country? | PLUS POLITICS
Channel: Plus TV Africa
Date: 2022-01-07

In November 2021, The federal government announced that it will remove the fuel subsidy and replace it with a monthly N5000 transport grant to poor Nigerians. The Nigeria Labour Congress (NLC) responded to the news, resolving to hold a national protest on February 1, 2022, against it. The back and forth removal of subsidies did not however start today. Recall that in 2012, when former President Goodluck Jonathan announced the removal of fuel subsidies, there were massive protests in the country. This had increased fuel prices from N65 to N141. A similar protest was held in 2000 when former President Olusegun Obasanjo attempted to remove fuel subsidies which he said cost the government $2 billion annually then. However, with fuel pump price currently at about 167 nairas what would be the new price? Is it the right move for our country?

Richard Inoyo, Financial Analyst joined us to discuss.
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