RE PUMP PRICE REDUCTIONS!!! The federal government of Nigeria through the minister of finance made an indendible announcements of the reduction in the pump price of petroleum (pms) from 97 to 87 Naira. This development might sounds delightful considering the enamous role of transportation in prices of good and services. In fact prices of of good and services skyrocketed anytime pumps prices were tempered with. Even though You seldom notice the chances, Nigerias have developed the habit of exorbitancy,Weather prices changes or not. One doubted the wisdom of this actions at this materials point in time, taking into cognisance the deteriorating crude price in the world market. and huge money spendings ventures faces this country. The raising cost of the insurgency and the up coming elections. The rationale behind this actions is questionable for any sane thinking economics layman. When the volume of your revenue decrease, your Expenditures are unnecessary increasing by the day, yet incurred another lost in internaly generated revenue. Because either between the two you either subsidised or you cut the price. Because petroleum marketers will not make the balance. This also translated into reductions of money meant for genuine developmental projects. If the economy is robust enough to sustain and obsorb such changes.the choices of the time might be dubious. The government uses everything at its disposal to campaigns, even at the detriment of long term effects of the economy. This not necessary under the current economic decapitation s, jonathans rightly figures out what the economy needs diversification s,, other sectors of the economy should be open up, In specific agriculture, which is the chief labour employer, solid minerals,manufacturing sectors, energy, other untapped natural resources. The economic power of country,determined its military might and political influences. The most important aspects of any nations is the economy, which provides the bases and could be translated into determine the standards of livings. Issues like this needs careful and subject to rigorous observations. With all the able hand Nigeria has, we only end up recalculating economic growth, that could not have impacted on the lives of the ordinary populace. Its saddened after the politasazations of the, insurgency we now choose to politised the economy.
Posted on: Sun, 18 Jan 2015 23:13:50 +0000
Trending Topics
Recently Viewed Topics
© 2015