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Friday, August 19, 2022

Petrol Subsidy Removal At This Time Could Lead To Instability

Lai Mohammed

Minister of information and culture, Lai Mohammed has stated that it is the wrong time to remove the costly petrol subsidy.

Subsidy or under-recovery is the underpriced sales of premium motor spirit (PMS), better known as petrol.

The federal government had postponed the planned petrol subsidy removal till further notice, citing “high inflation and economic hardship”.

Mohammed said this on a Monday in an interview with Reuters.

Also Read: Why Nigeria Has Not Removed Fuel Subsidy – Buhari

He added that many other countries had introduced measures to help citizens cope with high oil energy prices due to the Russia-Ukraine war.

“When you consider the chaos, the social disharmony and… instability such an action (of abolishing subsidies) would facilitate, is it worth it? I don’t think so,” Mohammed said.

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