Despite announcing the removal of subsidy on petrol and more than 400 per cent subsequent rise in the price, the Federal Government may be secretly paying an unspecified amount to marketers of the product to maintain the current pump price.

President Bola Tinubu had during his inaugural speech on Monday, May 29, 2023, announced that the era of subsidy payment on Premium Motor Spirit, otherwise known as petrol, was over. This announcement led to an instant rise in the pump price of the commodity from N189 to about N500.

The source said, “Ordinarily, the government ought not to be involved in fixing the pump price of petrol in a deregulated economy just as it is with diesel and kerosene, but when we realised how the removal of subsidy on petrol has thrown the citizens into poverty and how fast the administration is losing credibility and goodwill, we had to put on our thinking caps.

The security reports we are getting are not favourable at all. There is a high probability that there may soon be civil unrest and escalated tension as the citizens have been pushed to the wall. There are indications that the organised labour, civil society.


Don’t forget that the election that brought President Tinubu in is still being vigorously challenged by opposition parties, who are mounting massive pressure on the judiciary to overturn the result. Any protest at this time will not augur well for the administration as it will be difficult to contain and may be hijacked by the opposition, and if the presidential election petition tribunal orders a rerun or cancellation of the election.

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Pounchnews

Subsidy is back that one is for sure.

post your news source

Fake news

NO. SUBSIDY IS GONE FOREVER.

another1:
Subsidy is back that one is for sure.

Go & tell that to the petrol station attendant.

another1:
Subsidy is back that one is for sure.

That's correct. It was codedly done. At least one trait of PBAT no one can dispute is that he talks before thinking (knee-jerk). It's not his fault, it comes with age, but their denial of It's impact was the issue. Same thing played out in his acceptance speech as ECOWAS chairman. Obviously, his handlers are reining him in already, else he will say something that will undo the fortunes of Nigeria one day.