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.


Nigerians call for discontinuation of fuel subsidy payment

25 June 2015, 15:39

Lagos - A cross section of Nigerians on Wednesday urged the Federal Government to discontinue its subsidy payment policy to marketers importing fuel.

The respondents said in Lagos that removal of petroleum subsidy would be good for Nigeria’s prosperity.

The Director, Centre for Bee Research and Development, Bidemi Ojelewe, said that the controversy about the fuel subsidy payments was demoralising to the populace.

He said the country’s economy would rapidly develop and prosper if normalcy reigned over subsidy payments to marketers.

"Removal of fuel subsidy is inevitable if our government wish to meet the pressing anticipation of the masses,’’ he said.
Prof. Michael Akur, who lectures at the Department of Political Science, University of Jos, said: "The discontinuance of subsidy on fuel consumption will reduce the inflationary pressures our economy is facing.

"We should have a departure of the subsidy era as soon as possible.

"This departure is necessary because our economy has not grown in the manner it ought to.

"This economy will not progress if government continue to subsidise consumption of commodities such as fuel and the likes,’’ he said.

A civil servant, Shuaibu Yusuf, urged the Federal Government to scrap the programme of fuel subsidy payment and disburse funds earned by such scrapping to revamp the power sector.

"Our power sector is one area that needs more funds to be revamped.

Also read: Buhari advised to end fuel subsidy

"The money realised from the stoppage of subsidy payment should go into solving other challenges in other sectors.

"Government should introduce a modern mass transit scheme across the country so that ordinary citizens will not fill the impact of subsidy removal if eventually done,’’ he said.

A proprietor of a medium-size enterprise in Lagos, Akeem Ogidan, said that the Federal Government policy to part finance cost of fuel consumed by Nigerians was not sustainable.

Ogidan, the Chief Executive Officer, Tanke Paper Mills, said that governments at all levels needed to pursue policies that would save and earn for them more money.
He also noted that to continue the fuel subsidy policy in era of declining oil prices in the international market would worsen Nigeria’s economy.

According to the Nigerian Extractive Industries Transparency Initiative (NEITI), the federal government spent a whopping N4.5 trillion on fuel subsidy claims between 2006 and 2012.



Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...