Removing petrol subsidy could lead to instability – FG


The Minister of Communication and Culture, Lai Mohammed, has said that the Federal Government cannot, at the moment, remove subsidies on the Premium Motor Spirit (PMS), popularly called petrol.

Mohammed, who spoke during an exclusive interview to Reuters in London, said many other nations were introducing measures to help citizens cope with high oil energy prices, hence Africa’s most populous country could not be an exception.

The federal government had earlier postponed the planned petrol subsidy removal till further notice, citing “high inflation and economic hardship”.

Addressing the newsmen, the minister said, “When you consider the chaos, the social disharmony and … instability such an action (abolishing subsidies) would facilitate, is it worth it? I don’t think so.”

On the pipeline vandalism, Mohammed said the new petroleum industry law that allocates money to oil-producing communities would stop attacks, blaming the European Union’s climate change policies for stifling investment in the sector.

“We believe that climate change is real and important for emission control, but there is a bit of double standard in the EU policy regarding climate change,” he said.

Abisola Adebayo is a Reporter/Presenter/Social Media Manager for Tv360Nigeria. She is a first class graduate of the department of Mass Communication at Fountain University, Osogbo. Abisola is currently running her Masters Degree at the University of Lagos. The Social Media savvy young lady is ambitious and driven, likes trying new things and sets new goals for herself. Always looking for an opportunity to do better and achieve greatness.

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