President Jonathan to remove fuel subsidy again

President Goodluck Jonathan on Tuesday (today) said he is still planning to withdraw fuel subsidy after discussing with the public the easiest way to do it.

Fuel Subsidy Fraud

“We cannot continue to waste resources meant for a greater number of Nigerians to subsidize the affluent middle class, who are the main beneficiaries,” Jonathan said today at a conference in Lagos.

Jonathan’s attempt to scrap the fuel subsidy on Jan. 1, 2012, without prior announcement sparked a week of strikes and protests, forcing the government to partially reinstate them, raising the price to N97 a liter from N65. Jonathan increased last year’s 888 billion-naira budget for the subsidy with 161 naira billion in December.

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