Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.

 

Group urges FG to remove fuel subsidy

13 January 2013, 17:13

Abuja -  Tosin Adeyanju, the Executive Director of an NGO, Conscience Nigeria, on Sunday called on the Federal Government to build coastal refineries in the country.

Adeyanju told the News Agency of Nigeria (NAN) that the refeneries, when built, would address challenges of incessant fuel scarcity.

He said the refeneries would help to maintain a uniformed pricing of petroleum products.

Adeyanju said the NGO, after monitoring the price of petrol across the country in the last six months, discovered that it was not uniform.

"Our NGO and a coalition of civil society groups conducted the survey on price of fuel across the country; we discovered  that fuel is sold at N97 per litre, mostly in Abuja and Lagos.

"Immediately you leave Abuja towards the airport road or Nyanya Maraba road, fuel is sold at 120 and above, so also in Kaduna, Sokoto, Kano, Enugu and other states,'' he said.

The director suggested that government should remove oil subsidy and allocate the money to critical areas of the economy that would create jobs to the unemployed youths.

He said government could have invested the over trillion naira it budgetted in 2012 for oil subsidy in improving power supply.

"Subsidy removal will save additional resources for investing in programmes targeted at mitigating poverty and spurring economic growth.

"The deregulation of the downstream sector of the petroleum industry will lead to rapid private sector investment in refineries and petrochemicals, which
will generate millions of jobs," he said.

According to Adeyanju, with deregulation, private refineries will spring up in different parts of the country much earlier than anticipated.

He said the NGO would collaborate with other civil society organisations to sensitise Nigerians to understand the need for removal of fuel subsidy.

Adeyanju urged government to implement a transparent system for redirecting and monitoring funds from the subsidy, so that Nigerians could scrutinise the expenditure.

- NAN

Tags fuel
NEXT ON NEWS24 NIGERIAX

Read News24’s Comments Policy

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
DSAGE
No country due to disunity and pu...

One thing about Africa this days is that the minds and countries are badly retarded due to lack of "burning desire" for sound education.  Read more...

Submitted by
Peregrino Brimah
We will defeat Boko Haram in just...

As the Nigerian military copes with compromise, sabotage and inevitable, related, desertions of its soldiers, Nigeria desperately needs the civilian patriotic response to terror. Read more...

Submitted by
DSAGE
Dumping ground for the white in c...

Biafra-Nigeria has remained a dumping ground for downright trashes under the Sun. Read more...

Submitted by
Peregrino Brimah
Are the Yanks still In Town? Whas...

We the people deserve to be in the know. We the people are motivated, willing, able and capable to participate in whatever is required to rescue these girls and destroy Boko Haram Read more...

Submitted by
DSAGE
The wise and supernatural beings ...

I have come a very long way in uphill struggle. It is known to the wise as pilgrimage. They called it "struggle" because nobody in life had ever found it as an easy way.  Read more...

Submitted by
Peregrino Brimah
Jonathan wants to borrow 1 billio...

If the entire 5 years of the Jonathan presidency are audited, the total amount missing/unaccounted for is estimated at up to $127 billion.  Read more...