The continuing impact of subsidies in the Oil Sector on the Nigerian Economy has been devastating with the current spending expected for the Fiscal year 2023 of 6 Trillion Naira.
This was the view of Economist and Senior partner of SPM Professionals, Paul Alaje, while speaking on the Business Nigeria programme with Tolulope Ogunjobi on the issue of subsidy.
Mr Alaje said the issue of subsidy is one that is multifaceted and needs to be properly addressed with the Buhari administration kicking the can down the road by refusing to assume responsibility for the removal of the fuel subsidy and passing it to the next administration.
He said this has been a recurring problem that the Federal Government under successive administration have failed to do leading to the current messy situation that the nation has found itself in with the unprecedented level of subsidy in Nigeria.
He asked what the subsidy is all about if not government inefficiency, poor policy and weak exchange rate.
He added that the main issue that is behind the fuel subsidy is the weak exchange rate adding that if the exchange rate remained what it was in 2015, PMS will still sell for what is being sold now without the added price hike across parts of the country which has created unnecessary hardship.
He said the price of fuel which some marketers said will sell for 700 or more dominated the headlines today because of the differential in price.
He said the argument for the removal of subsidy should not be about the demand side but the supply side too.
He added that it will be almost impossible for the average Nigerian to live in an Economy where the Energy cost is beyond reach.
He described Economic Theory is very deceitful and sweet easy to talk the talk but to walk the walk is very difficult.
The continuing impact of subsidies in the Oil Sector on the Nigerian Economy has been devastating with the current spending expected for the Fiscal year 2023 of 6 Trillion Naira.
This was the view of Economist and Senior partner of SPM Professionals, Paul Alaje, while speaking on the Business Nigeria programme with Tolulope Ogunjobi on the issue of subsidy.
Mr Alaje said the issue of subsidy is one that is multifaceted and needs to be properly addressed with the Buhari administration kicking the can down the road by refusing to assume responsibility for the removal of the fuel subsidy and passing it to the next administration.
He said this has been a recurring problem that the Federal Government under successive administration have failed to do leading to the current messy situation that the nation has found itself in with the unprecedented level of subsidy in Nigeria.
He asked what the subsidy is all about if not government inefficiency, poor policy and weak exchange rate.
He added that the main issue that is behind the fuel subsidy is the weak exchange rate adding that if the exchange rate remained what it was in 2015, PMS will still sell for what is being sold now without the added price hike across parts of the country which has created unnecessary hardship.
He said the price of fuel which some marketers said will sell for 700 or more dominated the headlines today because of the differential in price.
He said the argument for the removal of subsidy should not be about the demand side but the supply side too.
He added that it will be almost impossible for the average Nigerian to live in an Economy where the Energy cost is beyond reach.
He described Economic Theory is very deceitful and sweet easy to talk the talk but to walk the walk is very difficult.
The continuing impact of subsidies in the Oil Sector on the Nigerian Economy has been devastating with the current spending expected for the Fiscal year 2023 of 6 Trillion Naira.
This was the view of Economist and Senior partner of SPM Professionals, Paul Alaje, while speaking on the Business Nigeria programme with Tolulope Ogunjobi on the issue of subsidy.
Mr Alaje said the issue of subsidy is one that is multifaceted and needs to be properly addressed with the Buhari administration kicking the can down the road by refusing to assume responsibility for the removal of the fuel subsidy and passing it to the next administration.
He said this has been a recurring problem that the Federal Government under successive administration have failed to do leading to the current messy situation that the nation has found itself in with the unprecedented level of subsidy in Nigeria.
He asked what the subsidy is all about if not government inefficiency, poor policy and weak exchange rate.
He added that the main issue that is behind the fuel subsidy is the weak exchange rate adding that if the exchange rate remained what it was in 2015, PMS will still sell for what is being sold now without the added price hike across parts of the country which has created unnecessary hardship.
He said the price of fuel which some marketers said will sell for 700 or more dominated the headlines today because of the differential in price.
He said the argument for the removal of subsidy should not be about the demand side but the supply side too.
He added that it will be almost impossible for the average Nigerian to live in an Economy where the Energy cost is beyond reach.
He described Economic Theory is very deceitful and sweet easy to talk the talk but to walk the walk is very difficult.
The continuing impact of subsidies in the Oil Sector on the Nigerian Economy has been devastating with the current spending expected for the Fiscal year 2023 of 6 Trillion Naira.
This was the view of Economist and Senior partner of SPM Professionals, Paul Alaje, while speaking on the Business Nigeria programme with Tolulope Ogunjobi on the issue of subsidy.
Mr Alaje said the issue of subsidy is one that is multifaceted and needs to be properly addressed with the Buhari administration kicking the can down the road by refusing to assume responsibility for the removal of the fuel subsidy and passing it to the next administration.
He said this has been a recurring problem that the Federal Government under successive administration have failed to do leading to the current messy situation that the nation has found itself in with the unprecedented level of subsidy in Nigeria.
He asked what the subsidy is all about if not government inefficiency, poor policy and weak exchange rate.
He added that the main issue that is behind the fuel subsidy is the weak exchange rate adding that if the exchange rate remained what it was in 2015, PMS will still sell for what is being sold now without the added price hike across parts of the country which has created unnecessary hardship.
He said the price of fuel which some marketers said will sell for 700 or more dominated the headlines today because of the differential in price.
He said the argument for the removal of subsidy should not be about the demand side but the supply side too.
He added that it will be almost impossible for the average Nigerian to live in an Economy where the Energy cost is beyond reach.
He described Economic Theory is very deceitful and sweet easy to talk the talk but to walk the walk is very difficult.
The continuing impact of subsidies in the Oil Sector on the Nigerian Economy has been devastating with the current spending expected for the Fiscal year 2023 of 6 Trillion Naira.
This was the view of Economist and Senior partner of SPM Professionals, Paul Alaje, while speaking on the Business Nigeria programme with Tolulope Ogunjobi on the issue of subsidy.
Mr Alaje said the issue of subsidy is one that is multifaceted and needs to be properly addressed with the Buhari administration kicking the can down the road by refusing to assume responsibility for the removal of the fuel subsidy and passing it to the next administration.
He said this has been a recurring problem that the Federal Government under successive administration have failed to do leading to the current messy situation that the nation has found itself in with the unprecedented level of subsidy in Nigeria.
He asked what the subsidy is all about if not government inefficiency, poor policy and weak exchange rate.
He added that the main issue that is behind the fuel subsidy is the weak exchange rate adding that if the exchange rate remained what it was in 2015, PMS will still sell for what is being sold now without the added price hike across parts of the country which has created unnecessary hardship.
He said the price of fuel which some marketers said will sell for 700 or more dominated the headlines today because of the differential in price.
He said the argument for the removal of subsidy should not be about the demand side but the supply side too.
He added that it will be almost impossible for the average Nigerian to live in an Economy where the Energy cost is beyond reach.
He described Economic Theory is very deceitful and sweet easy to talk the talk but to walk the walk is very difficult.
The continuing impact of subsidies in the Oil Sector on the Nigerian Economy has been devastating with the current spending expected for the Fiscal year 2023 of 6 Trillion Naira.
This was the view of Economist and Senior partner of SPM Professionals, Paul Alaje, while speaking on the Business Nigeria programme with Tolulope Ogunjobi on the issue of subsidy.
Mr Alaje said the issue of subsidy is one that is multifaceted and needs to be properly addressed with the Buhari administration kicking the can down the road by refusing to assume responsibility for the removal of the fuel subsidy and passing it to the next administration.
He said this has been a recurring problem that the Federal Government under successive administration have failed to do leading to the current messy situation that the nation has found itself in with the unprecedented level of subsidy in Nigeria.
He asked what the subsidy is all about if not government inefficiency, poor policy and weak exchange rate.
He added that the main issue that is behind the fuel subsidy is the weak exchange rate adding that if the exchange rate remained what it was in 2015, PMS will still sell for what is being sold now without the added price hike across parts of the country which has created unnecessary hardship.
He said the price of fuel which some marketers said will sell for 700 or more dominated the headlines today because of the differential in price.
He said the argument for the removal of subsidy should not be about the demand side but the supply side too.
He added that it will be almost impossible for the average Nigerian to live in an Economy where the Energy cost is beyond reach.
He described Economic Theory is very deceitful and sweet easy to talk the talk but to walk the walk is very difficult.
The continuing impact of subsidies in the Oil Sector on the Nigerian Economy has been devastating with the current spending expected for the Fiscal year 2023 of 6 Trillion Naira.
This was the view of Economist and Senior partner of SPM Professionals, Paul Alaje, while speaking on the Business Nigeria programme with Tolulope Ogunjobi on the issue of subsidy.
Mr Alaje said the issue of subsidy is one that is multifaceted and needs to be properly addressed with the Buhari administration kicking the can down the road by refusing to assume responsibility for the removal of the fuel subsidy and passing it to the next administration.
He said this has been a recurring problem that the Federal Government under successive administration have failed to do leading to the current messy situation that the nation has found itself in with the unprecedented level of subsidy in Nigeria.
He asked what the subsidy is all about if not government inefficiency, poor policy and weak exchange rate.
He added that the main issue that is behind the fuel subsidy is the weak exchange rate adding that if the exchange rate remained what it was in 2015, PMS will still sell for what is being sold now without the added price hike across parts of the country which has created unnecessary hardship.
He said the price of fuel which some marketers said will sell for 700 or more dominated the headlines today because of the differential in price.
He said the argument for the removal of subsidy should not be about the demand side but the supply side too.
He added that it will be almost impossible for the average Nigerian to live in an Economy where the Energy cost is beyond reach.
He described Economic Theory is very deceitful and sweet easy to talk the talk but to walk the walk is very difficult.
The continuing impact of subsidies in the Oil Sector on the Nigerian Economy has been devastating with the current spending expected for the Fiscal year 2023 of 6 Trillion Naira.
This was the view of Economist and Senior partner of SPM Professionals, Paul Alaje, while speaking on the Business Nigeria programme with Tolulope Ogunjobi on the issue of subsidy.
Mr Alaje said the issue of subsidy is one that is multifaceted and needs to be properly addressed with the Buhari administration kicking the can down the road by refusing to assume responsibility for the removal of the fuel subsidy and passing it to the next administration.
He said this has been a recurring problem that the Federal Government under successive administration have failed to do leading to the current messy situation that the nation has found itself in with the unprecedented level of subsidy in Nigeria.
He asked what the subsidy is all about if not government inefficiency, poor policy and weak exchange rate.
He added that the main issue that is behind the fuel subsidy is the weak exchange rate adding that if the exchange rate remained what it was in 2015, PMS will still sell for what is being sold now without the added price hike across parts of the country which has created unnecessary hardship.
He said the price of fuel which some marketers said will sell for 700 or more dominated the headlines today because of the differential in price.
He said the argument for the removal of subsidy should not be about the demand side but the supply side too.
He added that it will be almost impossible for the average Nigerian to live in an Economy where the Energy cost is beyond reach.
He described Economic Theory is very deceitful and sweet easy to talk the talk but to walk the walk is very difficult.
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