Deliberations are still ongoing from the Federal Government as to whether to remove fuel subsidy or not.
Fuel Subsidy is a form of government intervention that dates back to October 2000 to reduce the cost of fuel by providing direct financial support to oil companies and as such, subsidize the product to consumers despite the high cost of importation.
Now, During the National Economic Council (NEC) meeting, chaired by the Vice-President, Prof. Yemi Osinbajo, they concluded that fuel subsidy should be removed as it has incurred more debt to the nations’ purse.
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