Speaking as a guest at the Channels Television Arise TV show, the Minister of State for Petroleum Resources, Ibe Kachikwu, explained why the fuel subsidy was removed and the reason for the increase in the price of fuel.
While calling on Nigerians to have faith in government, the Minister noted that the price of fuel will normalize after six to eight months.
“I try not to get into the semantics of deregulation or no deregulation but the reality is that we are liberalizing, we are freeing up the economy, and we are freeing up the business,” he said. “The ultimate of what we are headed for is that everybody should be able to do the business, bring in the product.
“I hear people want to have an argument about whether it is full deregulation or partial deregulation but at the end of the day, the objective is what was achieved with diesel or AGO, which is that the government will have less control over the business and individuals will be free to compete so that Nigerians will have the advantage of that competition.”
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It must be recalled that none of the promises this minister has made about the end of the fuel scarcity across the nation have been kept.
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