Sunday, 18 January 2015


With effect from today, the 19th of January 2015, fuel will now be sold for N87. The slash from N97 to N87 was announced yesterday by the minister of petroleum, Mrs. Deziani Allison-Madueke.

Many Nigerians hail this action, though comments coming from the opposition party and its supports show that they see the move as a political tactic. Also, some Nigerians also feel it could have been slashed further downward since crude oil price has done down by about 50%.

And the questions behind the mind of many are: Are we still in the subsidy regime? Will the fuel stations sell their old stock with the new price? Another question is: Is it now time for full deregulation of the downstream sector? How would the masses react if fuel "subsidy" were to be removed?

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