Going by the shutdown of companies following the hike in diesel price, the removal of subsidy on petrol will further crash more businesses, petroleum expert and Technical Director at Template Design Limited, Bala Zaka, tellsWhat is your position on the call for fuel subsidy removal due to the crisis in the downstream oil sector?
And based on this I want to tell you that what the marketers are after is profit maximisation and cost minimisation regardless of whether the economy of this country collapses. Now let me give you my reasons. We already know that diesel has been deregulated and we can see the consequences on all the sectors, whether in the strategic domestic sector, strategic commercial or strategic industrial sectors.
It is not correct. For people shouting deregulation and that the price of PMS should be approaching the price of diesel, do they know that the minimum wage of this country is $50 or even less than that? The minimum wage in Nigeria today per month is about N30,000 and that is just about $50.
gr8 economies don't subsidized petroleum players come in to create healthy competitions that in turn brings out the creativities of the labour force which buoys capabilities in green energy that grow the economies eg US,EU,ASEAN states,CHINA S/KOREA ETC as against OPEC n Russia
Let it happen, it's the only way out.
I think it will be unwise removing fuel subsidy as doing so will certainly plunge the nation into the bell of the beast
Fuel subsidy is the Nigeria economic strategy boosting our economy ,money spent on it is worth the penny
If it remove, let it kill business, is the country value her citizens except killing, molesting children, raping innocent girls, religion madness, people are afraid to speak, no social welfare, no electricity for 61 years, no job creation.
But you can't eat your cake and have it
Abi don kill every business
You don't subsidize consumption, you subsidize production. Desiel is a petroleum product that needs subsidy in Nigeria IMO. Most of the factories uses desiel 2 produce n transport their goods. And as a business man I know very well how d price of desiel directly affects our price
Wait o, like this dem never remove subsidy?
One of the causes of our economic regression in this country is lack of qualified bureaucratic personnel
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