Lexy Blog

Following Federal Government’s withdrawal of fuel subsidy last week, this move attracted massive protests across various parts of the country and heated debates giving the socio-economic implications on Nigerians. However, full deregulation of the petroleum sector is believed to ensure sustainable petroleum pricing, writes ALEXANDER CHIEJINA In Nigeria today, the most contentious issue is the removal of subsidy on Premium Motor Spirit (PMS) otherwise known as ‘Petrol.’ The withdrawal of fuel subsidy by the Federal Government generated heated debates by Nigerians from all walks of life, including the civil society groups and the Nigerian Labour Congress (NLC), owing to its implications on the nation’s socio-economic landscape. Over the years, the Federal Government operated fuel subsidy with the aim of making petroleum products available to cushion the effect of actual market prices of the products on the general populace. According to reports by the Petroleum Pricing Regulatory

In the wake of the ongoing strike action which has led to massive protests across various parts of the country over Federal Government’s withdrawal of fuel subsidy, repair of the nation’s refineries and provision of basic amenities is key as fuel subsidy removal will cushion the current socio-economic implications in the country, writes ALEXANDER CHIEJINA The implementation of the long-awaited removal of fuel subsidy has drawn public ire and pitched civil society against the government.   When the Federal Government finally implemented its action which jacked up the fuel pump price of Premium Motor spirit (PMS) otherwise known as ‘Petrol’ from N65to N141 per litre Sunday last week, Nigerians from all works of life took to the streets to protest against government's decision to remove popular fuel subsidies. As tens of thousands joined demonstrations, the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC)-the two major umbrella bodies of workers’ unions in the country