Thursday 12 May 2016

AFTER TRILLIONS SPENT ON CORRUPT FUEL SUBSIDIES, FG FINALLY BITES THE BULLET

AFTER TRILLIONS SPENT ON CORRUPT FUEL SUBSIDIES, FG FINALLY BITES THE BULLETAfter the trillions of naira spent by successive administrations sustaining the corrupt and hugely inefficient fuel subsidy regime, wednesday the Muhammadu Buhari administration finally summoned up the courage to remove the subsidy on petrol, stating that it would now sell for not more than N145 a litre.

However, despite its best efforts to get the buy-in of the major labour unions, which for decades had thwarted the attempts by previous administrations to remove the subsidy on petrol, the Nigeria Labour Congress (NLC) warned that it would resist any attempt to “foist or force the increase on Nigerians”.
 

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