On the need to remove subsidy

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Last Week, Nigerians received a September gift from government. The Pipeline Price Monitoring Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation increased the price of petrol from N143 to N151 per litre. The Nigeria Electric Regulatory Commission (NERC) simultaneously hiked the electricity tariff. Don’t ask me why the government took this bold, daring but unpopular decision. Even before it finally settled for these actions, indicators had continued to emerge that the days of subsidy would be over.

Why? The government says it cannot afford or continue to dole out handouts to Nigerians in the name of subsidy. It is reported that the government had been spending…



Source: Nigerian Tribune