Nigeria: Fuel Subsidy Dilemma - the Sensible Way Out

18 May 2015
opinion

The severe social discomfort and economic dislocation caused by fuel scarcity nationwide may stampede the incoming Administration of President-elect Muhamad Buhari to settle the outstanding invoices of Petrol Marketers, and also accept over N200bn penalty interest charge for delayed payments and exchange rate differentials consequent upon the almost 20% recent Naira devaluation.

Some critics may suggest that the government representatives who accepted liability for such oppressive penalty charges, would not readily make such an undertaking if they represented their own private corporations or family assets, particularly in the face of a bleeding revenue base and rapidly increasing debt burden.

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