Don't Miss


Home   >   Goverment   >   FG Plots Total Subsidy Removal in 2013

FG Plots Total Subsidy Removal in 2013

By on October 12, 2012

Fuel subsidy removal protest in January

 

Encouraged by its ability to remove 50% of the fuel subsidy in 2012, the Federal Government is determined to remove the rest of the subsidy on petroleum products in 2013.

The biggest indicator of the clandestine moves by the government is the fact that there is no provision for fuel subsidy in the 2013 budget which was submitted to the National Assembly by President Jonathan earlier this week.

Also, mallam Lamido Sanusi, the Central Bank governor gave an indication in faraway Japan while on tour of Asian countries with members of President Jonathan’s cabinet.

Speaking to Japanese investors and public officials, Sanusi said, “There have been concerns about the unsustainable subsidy regime and we now have a task-force and a number of importers are now being investigated for subsidy payments that do not relate to importation of petroleum products.
“In 2011, over N2 trillion was paid as subsidy for importation of petroleum products .This has come to about N888 billion in 2012. Ultimately, this subsidy will have to go. It is difficult to remove, but the government was able to remove 50 per cent this year- it is a major, major achievement, especially for the fact that for a long time no one could remove the subsidy.”

Undoubtedly the government will once again incur the wrath of the Nigerian people even as flooding and other realities on ground have escalated the harsh economic realities facing Nigerians.

Speaking on the development, Eze Kingsley, a legal practitioner in Lagos said, “We have not seen any single promise from the SURE-P program and government dares remove subsidy. I’m sure they are underestimating the resolve of the masses as the protests will be worse than that of January. Have they even started fixing the refineries?”

Time remains to tell if government will continue its misadventure in testing the temperance of the Nigerian people, however it is certain that any attempt by government to remove subsidy will cause untold hardship on the people and fuel further protests.

Mya Njideka, a MBA student in LASU said, “has government successfully prosecuted any fraudulent fuel marketer in Nigeria this year? The cases wil be buried in court aftr several years of litigation and no one will go to jail, yet they think we will sit down idly whilst they remove subsidy. PDP is digging its own grave.”

5 Comments

  1. bonfire

    October 12, 2012 at 3:51 pm

    This govt is destined for hell,No doubt!

  2. Ana

    October 12, 2012 at 4:18 pm

    We should not be seeking peanut at the expense of massive development and employment. Just imagine #888 billion for subsidy only. This money is more than 50% capital budget. And until subsidy is removed, we should not even expect a private man to come and invest in Refinery in this country period.

  3. Ikenna

    October 13, 2012 at 2:46 am

    well said Ana

  4. One Nigeria

    October 16, 2012 at 10:36 am

    @ Ana: how sure are you that the proceeds of the subsidy would be used in capital development projects that would better the life of the Nigerian populace Nd not looted for selfish an personal gains??? What roadmap has the government put I’m place that assures the people that the money would be utilized in a forward progressive manner? Untill corruption is eradicated from the governmernt, I’m sorry to say that the people of Nigeria would not have faith and hope in the Nigerian government.

  5. goddy

    October 21, 2012 at 2:43 am

    recently we bought petrol at filling stations between 120 and 150 naira. the subsidy is overdue for removal. we can cope if it will bring sanity into the system.