What Nigerians set to experience if petrol becomes N340/Litre-Sen Shehu

todayNovember 26, 2021 13

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Shehu Sani, a Senator and former federal lawmaker from Kaduna state, has spoken on what Nigerians will experience if the price of petrol becomes N340 per litre.
Sani’s comment follows a statement by the Group Managing Director and Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC) that the price of petrol may range between N320 and N340 per litre after the removal of subsidy in 2022. Taking to his Facebook page, the former senator listed what will happen if the product is being sold at such a high price.

He said: “Salaries or wages will be worthless.
Landlords will increase the rent.
The schools will increase the tuition and parents must pay food prices, transport, water and electricity bills will increase”.

Though the minister of finance, budget and national planning, Zainab Ahmed, said the subsidy will be replaced with a N5000 monthly transportation grant to the poorest Nigerians, Senator Sani said the government’s plan cannot solve “all these problems.

Recalled that the World Bank has also advised the Nigerian government to remove the petrol subsidy, claiming that it does not benefit the poorest Nigerians. The Bank, however, advised the government to come up with programmes to protect the poor from the burden of the subsidy removal It also advised the government to redirect the savings from petrol subsidy to finance primary health, basic education, and rural connectivity projects.

Meanwhile, Malam Nasir El-Rufai, the governor of Kaduna state, has declared that state governments are in support of the federal government’s plan to remove fuel subsidy regime.

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Kaduna State Governor, Malam Nasir El-Rufai, has stated that Nigeria is losing N250 billion a month on petrol subsidies and that state governors are ready to support the Federal Government on ending the fuel subsidy tenure. The Governor made this known at the presentation of the World Bank Nigeria Development Update, November 2021 edition titled, “Time for Business Unusual”, according to the News Agency of Nigeria. Speaking at the event, […]

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