Subsidy Scam This morning in an interview on the African Independence Television, AIT, the Minister of petroleum explained the reason behind the recent reduction in the pump price of PMS from #97 to #87 as a response to critics. She made us realize that the PMS was being heavily subsidized at about 53 to 56 naira and that they just reached a parity level to global comparison around December ending regarding the sharp drop in crude oil to about 60% initial price, meaning a point where pms can actually be compared in the global price without subsidy. It was also explained that a lot of factors are involved in the calculation of pump price which features consideration of stability in the price over a period of time without subsequent increase. She also explained that the subsidy has just been reduced to #2.80 Kobo at the current price of #87. The question now goes around the benefits and the positive impact of this remaining subsidy on common people of Nigeria. My own argument being the removal of the whole subsidy and allow us to buy it at #90, a decision that will definitely shut all potential avenue to subsidy scam. Great people of our fatherland, your opinion on this matter will be highly appreciated. Thank you.
Posted on: Fri, 23 Jan 2015 08:56:45 +0000
Trending Topics
Recently Viewed Topics
© 2015