1. It will ensure private sector participation in the importation of petroleum products which will free up the market, empower many Nigerians and also allow the government to focus on other key sectors of the economy. 2. It will ensure the ready availability of petrol at all times for all Nigerians as Nigeria will be …
Removal of fuel subsidy simply means the government not paying for the difference between pump price and the actual cost of importing fuel anymore. It technically means full deregulation of the downstream sector to pave way for vibrant competition by other interested investors. With the removal of fuel subsidy, fuel will have to be sold …
This is any grant of financial aid from the government used to maintain the prices of a particular item at a certain level. To subsidise is to sell a product below the cost of production, fuel subsidy, therefore, means to sell petrol below -the cost of importation. Fuel subsidy can be properly defined as government …