In unconfirmed news, it has been reported that in a few days, Nigerian President Muhammadu Buhari will announce the removal of subsidy from petroleum products.
According to online news agency TheSignalng, the President has already begun consultations with the National Assembly and other stakeholders before the big announcement.
TheSignalng reports that a source said “President Buhari has come to terms with the economic challenges associated with government subsidy for petroleum products. The current economic situation of the country, has made it even more imperative to remove subsidy, because it is not sustainable.”
There had earlier been questions about the removal of subsidy last year which the President then dismissed saying
“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,”
It will be recalled that the last time subsidy was removed, mass protests broke out all over the country. It is doubtful if the same will happen now.