Federal Government says there is no alternative to fuel subsidy removal

The Federal Government has asked Nigerians for understanding over the deregulation policy, saying there is no alternative to the removal of fuel subsidy. It promised to provide sustainable palliatives to cushion the effects of the policy. Briefing State House correspondents after an emergency meeting of the Federal Executive Council (FEC) yesterday, Minister of Information, Mr. Labaran Maku, said the government was not willing to postpone the evil day by indulging in half measures, while the economy collapses on everybody. Rather, the government appealed to labour and other protesters to withdraw from the streets to prevent avoidable deaths and increasing the suffering of people. He said previous governments had postponed deregulation, yet the intended benefits did not come through because for as long as the government continued to monopolise the sector, no private sector investors would come into it. He said apart from the N10 billion earlier provided for urban transportation through the Urban Development Bank, the Federal Government had placed an order for 1,600 mass transit buses that would be arriving “in the next few days” to ease the pains of public transportation.

http://www.thisdaylive.com/articles/fg-no-alternative-to-fuel-subsidy-removal/106479/

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