Nigerians have been clamouring for removal of subsidy since crude oil prices have fallen in the international market. This literary means without subsidy fuel pump price should be lower than what it is presently.
Here is what the Cordinating Minister of the Economy, Okonjo Iweala has to say;
“With declining crude oil prices by about 49 percent, soon there will no longer be subsidy in petroleum products as usual, but government is not going to take a decision till after the current volatility in crude oil prices has stabilised. The Nigerian government does not want to reduce fuel price today only for crude oil price to rise tomorrow and we have to adjust the pump price again”.
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