From Princely Onyenwe
Why Has Fuel Pump Price Remained 515-530 Naira Per Litre At Filling Stations In Nigeria, After The Subsidy Removal?
FG has been seriously challenged by Nigerians to address the continued high pump price of Premium Motor Spirit PMS across the country. The high price of fuel at filling stations has attracted high cost of market products, food stuffs in Nigerian markets and transportation fare across the states of the Federation has continued to increase on daily basis as reported.
Speaking with 9News Nigeria, a technocrat in the oil firm opined that Tinubu’s government should speed up actions to sort out lingering challenges bedevilling the oil industry and push up actions to enforce his policy templates without delay to restore smiles on the faces of Nigerians.
The Federal Government has so far saved about N400bn as a result of the removal of subsidy on Premium Motor Spirit, popularly called petrol as reported.
For saving the four hundred billion Naira from the removal of subsidy as stated by Federal Government is a plus to President Tinubu’s administration.
The effect was since May 31, 2023, when the initiative was officially implemented, oil marketers stated on Thursday. “
Regrettedly, Nigerians are yet to see the benefits of subsidy removal to remedy the crucial effects of fuel hike and scarcity of petroleum products across the country.
In addition, PMS is still selling at a pump price of 515-530 naira per liter at press time and this has affected transport fare and market commodities across the country.
However, since the President Tinubu’s administration is less than hundred days in office, the speed at which his policies are signed into law need an equivalent implementation push at every sector of economy to improve the country as desired by the citizenry.
It is the prayer of Nigerians to see a better Nigeria at Tinubu’s time as President. The subsidy removal is expected to improve the country and not to impoverish the people.
9News Nigeria reports that the removal Of Subsidy have Saved Nigeria 400bn as stated by FG. The saving alone is not the challenge but the usage of the savings to the benefit of the generality of every NIGERIAN, irrespective of tribal difference and position, the people furiously lamented.
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