Fuel crisis: Don’t panic over removal of petrol subsidy

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Fuel crisis: Don’t panic over removal of petrol subsidy – NMDPRA

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has advised against the prevailing alarm surrounding the proposed elimination of fuel subsidies in Nigeria.

The panic started, yesterday, after President Bola Tinubu’s inaugural address, stressing, “We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor.

The subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.”

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