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 help in Biafra for the time be...

I mean the God in Bible said that we should forget about Biafra's liberation because the religious mentality of the majority has finally made him to increase the captivity period to seventy wasted years in decadence. Read more...

Submitted by
George Chuks
Nigeria we hope for

When you sell your vote and expect your opinion to count, then please dream on, for the worst to come. Read more...

Submitted by
Madu Henry
The people should hold the power

Why is that the election in Nigeria is controlled by those in power? Read more...

Submitted by
George Chuks
The world has nothing

No matter how you look at it, you would find out that all we chase is wind, when its tired of staying in the tube we managed to secure it in, little hole will make a way out for escape of it. Read more...

Submitted by
George Chuks
Death a call for all

Death as it is, a price everyone must pay whether poor or rich. Read more...

Submitted by
Okotete Collins
How to become a successful person

Believe it or the best way to be successful is to give your all to what you're doing. Read more...