According to a statement by Garba Shehu, his Senior Special Assistant on Media and Publicity, Mr. Buhari also promised that his administration would handle the issue of subsidies on petroleum products with care.
The President, the statement said, told his guests he had so far received a lot of submissions on the need to remove the subsidies but that he was still carefully reviewing them.
“I have received many literature on the need to remove subsidies, but much of it has no depth. When you touch the price of petroleum products, that has the effect of triggering price rises on transportation, food and rents. That is for those who earn salaries, but there are many who are jobless and will be affected by it,” the President noted.
President Buhari also said that the lack of security, sabotage, vandalism, corruption and mismanagement, not necessarily subsidies, are the most serious problems of Nigeria’s oil sector.
He promised to deal decisively with all identified problems of the oil and gas sector. In his words:
“We have to go back to the good old days of transparency and accountability.
President Buhari directed the NNPC to review existing agreements for the swapping of crude oil for refined products with a view to injecting more honesty and transparency into the process to reduce costs. He also asked the NNPC management to do more to improve the supply of liquefied petroleum Gas (cooking gas).
Do you think subsidy removal is a good Noting that the subsidy thing is allegedly a fraud and the rich are getting richer at the expense of the masses...and on the other hand, if it's removed, the masses will suffer as prices of commodities will inflate?
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