President Muhammadu Buhari has hinted that his government may not remove the petroleum subsidy, saying that the reasons so far canvassed for its removal did not sound plausible.
He added that it will have adverse effect on the poor and jobless Nigerians. Speaking after receiving a briefing from the Ministry of Petroleum Resources, the Nigerian National Petroleum Corporation (NNPC) and other agencies in the oil sector, President Buhari said he would review all the submissions he had received before making a final decision.
While the President needs to carry every segment of the society along, he must reflect deeply on the cost and benefit of retaining subsidy. It is a known fact that petrol price increase has far-reaching effects on food items, transport fares and other areas that affect the ordinary Nigerian.