Group supports FG to remove of fuel subsidy

While the federal government tells Nigerians that it has no plan to
remove subsidy on petrol at the moment, a professional group in the
oil and gas industry has expressed support to the federal government
to remove petrol subsidy which will imply increase in the pump price
of petrol per litre from N145 per litre to perhaps over N200 per litre
in an economy that is contending with the consequences of high cost of
production.
The National President of Nigeria Premier Organisation of Suppliers,
Stakeholders and Practitioners (NPOSSP) in the oil and gas sector
distribution service chain, Bennett Korie at the weekend expressed
support for the removal of petrol subsidy and allow the forces of
demand and supply to regulate the price of the product.
While Korie was making the recommendation at the inauguration of the
newly elected Zonal executive members of the association in Lagos, he
was silent on the fundamental issue of production of the product or
the refining of crude oil in the country. The absence of this has been
solely responsible for the crisis of subsidy.
There are indications that the Nigeria Premier Organisation of
Suppliers, Stakeholders and Practitioners (NPOSSP) are among the
potential principal beneficiaries of the removal of petrol subsidy and
exploitation of Nigerians through the policy.