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| General Mohammadu Buhari |
AND THE IMPERATIVES OF OIL SUBSIDY REMOVAL
The President of the Nigerian Federation H.E.Goodluck Ebele Jonathan yesterday said at the special opening speech of the Nigerian Economic Summit that he will not remove the Petroleum subsidy again being that the opposition parties has not totally agreed with him on this issue and other matters arising addressed to consolidate his government as in the security issues , the aspect of the impact of the immediate removal which may exacerbate tension and public apathy and make his rating becomes low at the beginning of a four year mandate term is seen as a well crafted policy thrust and many that spoke to National Peoples News on this issue are full of praise for President Jonathan as a compassionate listening president.
But then a second view that is crucial of consideration is that the removal is a necessary operation that must be done to cure the Nigerian Ailing economy and allow it to flow on market forces and even the opposition including His Pre Eminence Asiwaju Bola Tinubu and H.E. Raji Fashola who are leaders of the opposition parties know deep in their hearts that it is mandatory and imperative for the subsidy to be removed so that many investors can be attracted to the oil and petrol chemical industry in Nigeria...
And by the removal of subsidy it will become a profitable business for all and sundry just like the pure water or sachet water business or beverage bottling company . This will solve several problems including the aspect of the restive Niger Delta militant youth , bring investment, create jobs and allow Nigeria to move into the Dynamic market driven economy.
As it is the Nigerian economy is based on quasi Keynesian fiscal Conservative structure that is almost moribund and cannot compete with the contemporary more mobile and prospective market driven economy, whence Nigeria will soon begin to evince symptom of economic depression after a few years of continuous subsidy and it is like a journey to no where.
CONCLUSION/
Experts has analysed the problem and have advised the President Goodluck Jonathan to remove the subsidy in stages... He should remove the subsidy on diesel in this budget, and next year remove that on premium fuel and the third year remove that of kerosene and the removal will be complete.
NOTE / Point of warning is that for Nigeria to survive in the next 10 years and move to the required standard it is a matter of urgent imperative to remove all forms of subsidies from the economy...
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