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Showing posts from May, 2015

Why GMB should remove the fuel subsidy now

Before you come after me with accusations of wanting to remove the only benefit of the poor man from the all-too-evasive national cake,  let us think through this proposal together. What would happen if GMB'S first act upon being sworn-in is to deregulate the petroleum sector and remove the fuel subsidy? First of all, the oil marketers and filling stations would be free to openly sell fuel at the ridiculous prices that they currently sell in secret. There would be no need for the black market as you can drive into the nearest filling station and buy fuel at whatever exorbitant price they choose to sell it. But you would be buying from the pump, not paying some roadside tout to fill your tank with something you hope is petrol at the same exorbitant price. Next, after moaning for a couple of weeks (and a possible NLC strike), Nigerians would start to curb their fuel usage. Couples with 2 cars would share 1 (and spend more time with each other). People going for social functions