With the look of things over the years, it seems Fuel subsidy will eventually be removed.

My questions:

1. Is it not possible to remove fuel subsidy systematically/gradually? Like 10% removal every quarter. By the end of 2 years and 6 months, it would have been completely removed.

2. If number one is possible, why didn't previous administrations GEJ and Buhari adopt that approach.

What do Nairalanders think?

That's very possible.

Imagine landmarks like 10% of petrol subsidy goes anytime any of the below targets are attained.

1. Additional 2000 megawatts of fossil fuel power is added to the national grid.
2. Renewable energy capacity increases by 1000 megawatts.
3. When a net increase of 50,000 long term jobs are created.

NaughtyBrainiac:
With the look of things over the years, it seems Fuel subsidy will eventually be removed.

My questions:

1. Is it not possible to remove fuel subsidy systematically/gradually? Like 10% removal every quarter. By the end of 2 years and 6 months, it would have been completely removed.

2. If number one is possible, why didn't previous administrations GEJ and Buhari adopt that approach.

What do Nairalanders think?

What Goodluck Jonathan saw in 2012 is what you guys are seeing in 2023, what a shame!

Goodluck Jonathan removed this subsidy in 2012 and subsequently told Nigerians to endure the N140 price of PMS then.

What did you people do to him?

That's how things are done by wise an d experienced people..

It's only in Africa we use fire brigade approach.

Not worth it. Each increase will cause panic buying and scarcity and uncertainty in the market.

Best to yank it off and spend money on areas where people are bleeding as a result of the removal.
Fuel tank is 500 per ltr in Togo. All our fuel dt marketers take to dt country will stay here. If we hang on, costs will reduce when it’s no longer imported and it’s being sold by the refineries.

By next year BUA refinery will also be distributing products from dt axis and reduce transportation costs.

If electricity is stable or Business people are able to provide solar alternatives into the market, these would reduce demand for fuel. Less demand always causes market price to fall. We must sort out electricity to make the economy more productive.

NaughtyBrainiac:
With the look of things over the years, it seems Fuel subsidy will eventually be removed.

My questions:

1. Is it not possible to remove fuel subsidy systematically/gradually? Like 10% removal every quarter. By the end of 2 years and 6 months, it would have been completely removed.

2. If number one is possible, why didn't previous administrations GEJ and Buhari adopt that approach.

What do you think guys?

they are wicked beings. what has held them from fixing our energy all these years? uninterrupted power supply is prerequisite, if they really care about the people

If all the billions of dollars stolen in the name of turn around maintenance of our refineries were actually used fir the turn around we wouldn't be in this mess.

If Tinubu has already brought suffering in the lives of Nigerians under one hour of his presidency,imagine how much he has stolen by now.

Just like we warned about Buhari,we warned about Tinubu.

Very soon Yorubas will start begging that we should forgive Tinubu the way Buhari's kinsmen are begging we should forgive him