The Fuel Subsidy Debate

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Since Wednesday, when the federal government announced the removal of subsidy on petrol, there have been both angry and complimentary reactions to the policy.

Many Nigerians saw the subsidy as the subsidisation of fraud, as the product was sold much higher than the official price in many parts of the country, despite the subsidy payments. And attempts by the government to sanitise the subsidy system were always greeted with more frustration from the oligarchic oil marketers to the consuming public via artificial scarcity.

The removal of subsidy would free the market and help to curb corruption. Labour and other groups who are opposing the petrol subsidy removal must realise that it is the inevitable endgame to the fraudulent fuel subsidy regime that is now being played out.
– Vincent Obia