It
will not be exhaustive enough to delve into the rationale for petroleum subsidy
removal without noting the meanings of the term “subsidy” and “petroleum
subsidy removal”
However, subsidy according to BBC
English Dictionary “ is money paid by a
government to help a company or to pay for a public service”. In other words,
petroleum subsidy in this context is the money paid by the Nigerian government to the oil company to reduce the
pump price of
petroleum product per liter.
In the order hand, petroleum subsidy removal is a deliberate decision
taken by the Nigerian government to withdraw the percentage of money paid to
the oil company by the government to make the petroleum pump price affordable
to the citizenry.
CONCLUSION
In view of the submissions above, it is express in mind to see reasons with the federal government persuasive argument
on the
petroleum subsidy removal and
its importance to Nigerian economy .
In
away of summary, I personally believe that if the removal of
subsidy as claimed by the
government can bring total reformation to the petroleum industry
and foster an avenue for establishment of more public and private refineries,
restructure the entire organogram
of all other sectors of the economy for
good and possibly fight corruption
in the polity to a standstill
then it could be correct to say
that petroleum subsidy removal is one of the best thing
that have happened in the history
of the nation. And what more, with the money
saved, job opportunities will be created for the populace, stronger security and stable power supply will attract
investment and industrialization, the
economy of the nation will
record a boost. With the above put together Nigeria will be on its
journey to meet other super power
nations of the world.
SOURCE: Report from neighbor to neighbor initiative (plateau
House, Ralph Sodeinde Street Central Business District Abuja Nig.)