The Many Positives Of Subsidy Removal

By Babajide FADOJU 
By removing fuel subsidies, Nigeria will create a more conducive environment for private sector investment in the petroleum industry. 

The removal would enable market forces to determine fuel prices, promoting competition and attracting domestic and foreign investors. Increased private sector participation can lead to enhanced efficiency, technological advancements, and job creation, ultimately contributing to the country's economic diversification and prosperity.

The NMDPRA will opretationalize the strategic reserve that will help reduce the shortage of products that can occur in the interim and lead to price increases in the short term.

An unsubsidized petrol market is not a free-for-all, market rules still applies and NMDPRA will serve as the unbiased umpire to see that these rules are obeyed.

For full responsibilities of the NMDPRA, check the attached detailed infographics. 

Together we can #kickoutsubsidy and #SaveOurEconomy

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