Wednesday, 7 December 2011

Jonathan Nigerian president insists on fuel subsidy removal

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Goodluck Jonathan the Nigerian president insists that subsidy on fuel product has to be removed in order for things to get better in the country.
But there seems to be no going back on the proposed change that has stimulated wide criticism from citizens and senate. At the recent opening of the inter-religious council North Central Zone, Goodluck Jonathan insists that fuel subsidy must the removed in January 2012.  The meeting which was held in Ilorin has received several criticisms from citizen's craving for a better life in the midst of poverty, unemployment, insecurity and many more. 
At the event President Jonathan said his government needed to remove the subsidy to stimulate conomy. Jonathan said, "If we deregulate and stimulate the economy, a family with a car and five children, for instance, would be better off, as there will be job opportunities for the graduates."So, even at N18,000 minimum wage, if three of the children are employed, that will increase their income and improve their living standards than without deregulation and the children remain unemployed."Even if you give petroleum products free and our economy remains as it is today, we cannot expand our industries and so there will be no job creation. Job creation will reduce violence and insecurity. The problem we have now is how do we stimulate the economy? How do we increase productivity and economic investments to create more jobs?"Our major concern is job creation. Without government coming up with a robust plan to create jobs, many youths may not have jobs and may become frustrated. We have taken revolutionary steps to create jobs. We are committed to job creation."Jonathan first informed the nation about the planned removal when he presented the fiscal framework to the National Assembly in October."A major component of the policy of fiscal consolidation is government’s intent to phase out the fuel subsidy beginning from the 2012 fiscal year. This will free up about N1.4 trillion in savings, part of which can be deployed in providing safety nets for poor segments of the society to ameliorate the effects of the subsidy removal," he had written.Organised labour and civil society groups have argued that the removal of subsidy from petroleum products will further impoverish the masses-but the president does not seem to see it in that light-source:pn News reports

2 comments:

  1. Removing subsidy on fuel in Nigeria will only make life difficult for people, why cant the president see this?

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  2. why will nigerian gov. want to remove subsidy? this is ridiculous, they never think of the common man

    ReplyDelete