Black Market Sellers waiting for Customers along Aba Road in Port Harcourt weekend. Photo: Nwankpa Chijioke FILE
The Minister stated this when she briefed State House correspondents after the Federal Executive Council, FEC, meeting presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja.According to her, “We have not been able to develop an effective formula that will replace the current subsidy regime.‘As you know what works in Ghana and other countries, may not work here.
The Minister also explained the difference between under recovery and subsidy, stressing that under subsidy regime, money was paid directly to Independent Petroleum Marketers for the importation of fuels, while on under recovery, the Nigeria National Petroleum Corporation, is the sole importer of petroleum products.
Source: News Formal (newsformal.com)
vanguardngr U'd never see a formula dat works cos ur team is an assemblage of dullards.GEJ's team had it all figured out bt d zombie occupying ASO Rock & d likes of T Bakare frustrated it.PMB said subsidy was a fraud bt now funds it with trillions without budgetary allocation.Ridiculous!
vanguardngr Ghana sells fuel N 300 / litre pay minimum wage about 60,000
vanguardngr Remove subsidy at once, deregulate the market, pay living wage. Tax fuel consumption abd use the proceed to provide infrastructure like electricity and roads!
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