Vice-President Yemi Osinbajo has
given reason the All Progressives Congress, APC, adminstration cannot remove
petroleum subsidy.
Osinbajo speaking at Vice
Presidential Debate organised by the Broadcast Organisation of Nigeria and the
Nigeria Elections Debate Group on Friday, said removal of subsidy will of the
have massive effect on Nigerians.
He added that petrol price could
go as high as N220 if it is removed.
According to him, “The NNPC is
the sole importer of petroleum. So, it is from the balance sheet of the NNPC
that the subsidy is being taken.
“Now, let me say that if today,
you are to remove subsidy, petrol price could go as high as N220 per litre or
higher. There is no country in the world, not even the wealthiest ones that
don’t run some type of subsidy or the other.”
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