President Goodluck Jonathan yesterday said the only way to attract investors to the downstream petroleum sector and make fuel products available is to scrap subsidies. He spoke in Abuja while receiving a report from participants of the Executive Course 34 of the National Institute for Policy and Strategic Studies, Kuru, Jos.
"Why is it that people are not building refineries in Nigeria despite that it is a big business? It is because of the policy of subsidy, and that is why we want to get out of it," the President said. Jonathan's comments came as fuel crisis persists in the country, with people linking it to an alleged back-door plan by government to end petrol subsidies.
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