FUEL SUBSIDY REMOVAL: TWELVE REASONS WHY DECISION IS RIGHT

01: Trillions of naira have been spent by successive administrations sustaining a corrupt, largely abused regime that has ended up in private pockets, creating overnight billionaires who continue to walk free.

02: Petrol subsidies over the years have caused supply disruptions and engendered inefficiencies in their management.

03: Under the current low oil price environment, dwindling oil revenue and shortage of foreign exchange, deregulation would partly reduce the pressure on the naira and foreign reserves


04: With deregulation, importers of petrol can source for their dollar requirements from autonomous sources, which would ease pressure on the naira and foreign reserves