President Muhammadu Buhari has said that although he has read a lot of literature on Subsidy removal, he is yet to take any decision on whether to remove petroleum subsidy or not.
According to a statement by the Senior Special Assistant on Media and Publicity to the President, Mallam Garba Shehu, Buhari said this after receiving a briefing from the Ministry of Petroleum Resources, the Nigerian National Petroleum Corporation and other agencies in the oil sector at the Presidential Villa, Abuja on Monday.
Buhari said “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 rise 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.”
Buhari listed lack of security, sabotage, vandalism, corruption and mismanagement as the factors militating against the Oil Sector.
He advocated transparency and accountability so as to reduce costs.