El-rufai: Cameroon Shut Down Its Refinery Because Of Cheap Fuel From Nigeria

source: dailytrust
138

Governor Nasir el-Rufai of Kaduna State has said the current fuel subsidy regime is not beneficial to According to the governor, the monthly subsidy payments which cost the country over N250 billion is only to the benefit of El-Rufai also said one of Nigeria’s countries, shutdown its refinery because of the cheap fuel they are getting from Nigeria. The governor spoke at the launch of the World Bank Update (NDU). “The fuel that matters to Nigerian is kerosene, it has been deregulated and the world has not collapsed. The fuel that is important to industry and transporters is diesel and it has been deregulated — nothing has happened,” el- Rufai said. “So this hullabaloo about petrol is just something we must as a country have a conversation and agreed that it has to end, we can not continue to gasoline to our country, which is what we are doing.” According to the governor, the beneficiaries of fuel subsidy in Nigeria are smugglers, Africa countries, and some rich people in Nigeria. “This month, the NNPC brought only N14 billion to the federation account. In the budget, they are meant to bring in N120 billion monthly, but they brought 14 billion with the threat that they will ask the federation account to give them a cheque to cover subsidy.” “Who is befitting for the subsidising other than the smugglers, Africa countries, and some rich people?” “We should stop politicising these things that will bring Nigeria to its knees” On the move to replace fuel subsidy with a N5,000 transport grant for 40 million Nigerians, the governor said it’s a welcome development as the state governors are in full support. “The Nigerian Governor Forum has met and agreed to support the federal government, withdraw this subsidy by February, and use the N250 billion per month that would have been lost between February and May to do these conditional cash transfers that would put money in the pocket of Nigerians,” he “To ameliorate not only cost of but also the 2 to 3 percent jump in inflation that is expected when the subsidy is removed.”

Use The App To Win N1m

NB: Stories are shared by community members. The article does NOT represent the official view of NaijaWorld and the author is SOLELY RESPONSIBLE for this article
Comments

Related Stories
thumbnail
Femi Fani-Kayode Condemns Nigeria's Diplomatic Ties with Israel Amid Middle East Crisis
4 m
thumbnail
Umahi Counters Northern Claims on Federal Road Projects: North Has 52% of Legacy Projects
4 m
thumbnail
Trump Threatens Iran Amid Israel-Iran Conflict: US Denies Involvement
1 h
thumbnail
Presidency Clarifies Aisha Yesufu’s Name Absence from National Honours List
1 h
thumbnail
Lagos Tanker Drivers Threaten Strike Over N12,500 E-Call Up Fee
54 m
thumbnail
Nigeria Condemns Israel’s Military Strike on Iran and Calls for Peaceful Resolution
54 m
thumbnail
Ned Nwoko Declared Legitimate Leader of APC in Delta North Amid Rotation Clarification
3 h
thumbnail
Senator Natasha Akpoti-Uduaghan Defies Suspensions Amid Political Turmoil
5 h
thumbnail
Israel Evacuates Netanyahu to Greece Amid Iranian Drone Attacks
6 h
thumbnail
FCT Ground Rent Deadline Sparks Massive Payment Rush from Landowners and Security Agencies
6 h
thumbnail
Governor Soludo Allocates N15 Million for Burial of Ogwuaniocha Crisis Victims Amid Calls for Reconstruction
7 h
thumbnail
Can the US and Israel Win Against Iran? Lessons From History
6 h
thumbnail
Africa's Interests in Global Conflicts: Choosing Sides Wisely
6 h
thumbnail
Iranian Missiles and Yemeni Strikes Target Israel in Coordinated Attack
10 h
thumbnail
Iran Launches Major Attack on Israel Amid Rising Tensions
10 h
thumbnail
Putin Offers Peace Talks with Ukraine as US and Russia Engage in High-Level Diplomacy
10 h
thumbnail
Cyprus Responds to Iran-Asked Message Amid Escalating Middle East Tensions
4 h
thumbnail
Kenneth Okonkwo Criticizes Akwa Ibom Governor's Response
10 h
thumbnail
Cross River Tensions Rise Over Alleged Disruption of Federal Projects Inauguration
9 h
thumbnail
The Obidient Movement's Fight Against Tribal Hate and Manipulation
11 h
Related Stories
thumbnail
Femi Fani-Kayode Condemns Nigeria's Diplomatic Ties with Israel Amid Middle East Crisis
4 m
thumbnail
Umahi Counters Northern Claims on Federal Road Projects: North Has 52% of Legacy Projects
4 m
thumbnail
Trump Threatens Iran Amid Israel-Iran Conflict: US Denies Involvement
1 h
thumbnail
Presidency Clarifies Aisha Yesufu’s Name Absence from National Honours List
1 h
thumbnail
Lagos Tanker Drivers Threaten Strike Over N12,500 E-Call Up Fee
54 m
thumbnail
Nigeria Condemns Israel’s Military Strike on Iran and Calls for Peaceful Resolution
54 m
thumbnail
Ned Nwoko Declared Legitimate Leader of APC in Delta North Amid Rotation Clarification
3 h
thumbnail
Senator Natasha Akpoti-Uduaghan Defies Suspensions Amid Political Turmoil
5 h
thumbnail
Israel Evacuates Netanyahu to Greece Amid Iranian Drone Attacks
6 h
thumbnail
FCT Ground Rent Deadline Sparks Massive Payment Rush from Landowners and Security Agencies
6 h
thumbnail
Governor Soludo Allocates N15 Million for Burial of Ogwuaniocha Crisis Victims Amid Calls for Reconstruction
7 h
thumbnail
Can the US and Israel Win Against Iran? Lessons From History
6 h
thumbnail
Africa's Interests in Global Conflicts: Choosing Sides Wisely
6 h
thumbnail
Iranian Missiles and Yemeni Strikes Target Israel in Coordinated Attack
10 h
thumbnail
Iran Launches Major Attack on Israel Amid Rising Tensions
10 h
thumbnail
Putin Offers Peace Talks with Ukraine as US and Russia Engage in High-Level Diplomacy
10 h
thumbnail
Cyprus Responds to Iran-Asked Message Amid Escalating Middle East Tensions
4 h
thumbnail
Kenneth Okonkwo Criticizes Akwa Ibom Governor's Response
10 h
thumbnail
Cross River Tensions Rise Over Alleged Disruption of Federal Projects Inauguration
9 h
thumbnail
The Obidient Movement's Fight Against Tribal Hate and Manipulation
11 h