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FG abandons 100 percent subsidy removal

The Nigeria government spear headed by president Goodluck Jonathan has eventually bowed to the pressure from the Nigerian public and has therefore withdrawn its decision to implement a 100 percent fuel subsidy removal.

Continue to read after the cut.....

The 2012 budget signed on Friday by president Goodluck Jonathan, had a provision of N888 billion for fuel subsidy which he admitted was due to pressure.

His words: "The initial 2012 Budget proposal assumed full deregulation of the downstream petroleum sector. However, after listening to the voice of Nigerians, we opted for partial subsidy removal.

However, the president did not categorically state that the 100 percent fuel subsidy policy has been abandoned. Also, sources from the corridors of power said "there are no serious discussions in that regards anymore and that the panic Nigerians faced in January is not one to be desired soon.

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