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Friday, May 13, 2016

Is this the right decision

Thoughts #Nigeria.

Right Decision:
1. Subsidy regime abused and ladder with corruption
2. To curb supply disruptions and inefficiencies
3. To reduce the pressure on the naira and foreign reserves
4. Importers of petrol can source for dollar requirements from autonomous sources
5. Diversion of products will be minimised
6. Removal of subsidies will attract private sector investment in the downstream oil sector
7. With time, Nigeria would transit from an importer of products to a net exporter of products
8. End of subsidies will end crude oil swaps and other opaque trading arrangements that have cost billions
9. Savings made will be used to develop critical infrastructure that would create jobs
10. Competition will force marketers and NNPC to adopt best practices
11. Prices will inevitably stabilise and drop over time
12. In reality, fuel had not been selling at the official pump price in many parts of Nigeria

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