Recently, the Group Managing Director (GMD) of the Nigerian National Petroleum Company Limited (NNPCL), Malam Mele Kyari disclosed that Premium Motor Spirit (PMS), popularly known as petrol, will sell between N320 to N340 per litre in the year 2022 following the impending removal of fuel subsidy.
Malam Kyari made the disclosure in Abuja during the presentation of the November edition of the World Bank Nigeria Development Update, titled: “Time for Business Unusual.”
The NNPCL boss also disclosed that the federal government would be out of the subsidy regime in the first quarter of 2022.
According to him, the subsidy would have been eliminated this year, but for certain factors that prevented it.
However, Kyari noted that the move will be unstoppable next year.
He assured that fuel subsidy removal would definitely be achieved in 2022 as it was now fully backed by law, adding that the price of the product may range between N320 and N340 per liter.
Hence, he said, the Federal Government is planning to give N5,000 each to 40 million Nigerians, representing 40 per cent of the country’s 200 million population, next year to coincide with the take off of the subsidy removal.
This is a very sad news to an average Nigerian who knows the implications of this latest move by the federal government.
For a country wearing the toga of one of the poorest nations on the continent,it is a very sad development which paints a picture of gloom across the nation.
We have said it severally that Nigerian politicians or rather,the political class are clueless and uncreative.
The price Nigerians are paying today is the long dependence on oil without developing other sectors of the economy with the bogey of corruption that have refused to be broken.
That Nigeria produces crude oil in abundance provides it with the capacity for local refining and also refining for export such that it is not supposed to be facing the present severe cut-throat price regime which is beyond an average civil servant.This is contradictory,painful and ironical.
Until we address the issue of poor infrastructure and power generation,the subsidy removal would continue to haunt the nation.
No patriotic Nigerian with common sense would accept the argument that the reason why ordinary Nigerians suffer petrol price hike is because the price of oil and gas is indexed on the Dollar when many nations who don’t have oil live and enjoy their economies.
The haphazard way the Nigerian economy has been handled leaves much to be desired.
The core driver of economic growth that is electric power falls below acceptable standard.
Nigerians have to produce their power through generators,provide water through boreholes and yet pay heavily for education.
Graduates are roaming the streets where jobs are hardly available.
The rise in crime and criminality are direct aftermath of poor economy.
Why would the federal government of Nigeria not address aforementioned economic situation before removing the subsidy.
Nigerians have seen such economic belt tighting in the past but nothing came out of it.
Some Nigerians are seriously suspecting that this development has something to do with the 2023 presidential election.That would be seen when the time comes.
The Trade Union Congress (TUC)has however warned the federal government not to go ahead with the subsidy removal if the necessary consultations with the labour unions on how to seek palliatives to cushion the effect are not done.
Though Nigerians do not take labour seriously anymore due to their past experiences,we are waiting to see how the imbroglio plays out.
Finally,we call on the federal government of Nigeria to put all necessary infrastructure on ground before going ahead with removal of the subsidy.
As we call on the federal government,so we also call on state governments to also do the needful.
Nigerians must be spared the looming social upheaval.
May God bless Nigeria.


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