Restructuring of the Nigeria Oil and Gas industry by President Asiwaju Bola Ahmed Tinubu facing the hurdles of the NNPCL cabals and Oil marketers profiteering at the expense of Nigerians.
The recent fuel subsidy removal has triggered an increase in Petroleum price (PMS) in Nigeria from #165 per litre to #530 before the outright declaration of a sudden skyrocket increase in Petroleum price after meeting with the Vice President, Kashim Shettima on behalf of the president President Bola Ahmed Tinubu.
Past administrations have attempted to remove fuel subsidies but have not been successful due to opposition on the wrong belief that the implication of subsidy removal is just the increase in the price of fuel.
“There was also the suspicion that the proceeds made from the removal will be embezzled and the gains will not get to the intended beneficiaries.”
On Tuesday, the Nigerian National Petroleum Corporation Limited and other oil marketers raised the price of petrol from about N537/litre to between N617 and N630/litre.
Hon. Amb. Prince Samuel Adesegun Egunjobi,
Convener, Asiwaju Bola Tinubu Youth Ambassadors for Progressive Governance.
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