Pundits and economists alike are waiting to see which side will prevail 10 years after protests against petrol subsidy removal empowered the present ruling party. Despite fears of repercussions, some economists and stakeholders agree that removal of the subsidy is a necessary step towards long-needed reform. However, the feasibility of the plans to give transportation grants to poor Nigerians has raised doubts on the source of funds and impact on the volume of money in circulation, as well as transparency and accountability issues. President Muhammadu Buhari's administration has decided to remove the subsidy this year and damn the consequences to free up resources needed to run the economy. A panel chaired by Vice President Yemi Osinbajo will meet with the Nigeria Labour Congress (NLC) and other stakeholders to consider the proposed N5,000 transport palliative and other options aimed at ameliorating the effects of the planned subsidy removal on Nigerians. The options remain hard as labour unions are already up in arms to protest if the decision on subsidy removal is taken.
Index to Nigerian Newspapers
