Hardship looms as FG plans to remove fuel subsidy in 2022

By Timi Black
Chief Correspondent

Tension is heightened in Nigeria over the plan by the country’s federal government to remove fuel subsidy by the end of February 2022.

The report has it that by the intended removal of the fuel subsidy in the country, a litre of fuel may cost N340.

The fear of the poor masses was that the increase in fuel price may negatively affect the price of other commodities in the country.

It is not a news that over seventy millions of Nigerian population live between poverty line of $1 dollar per day. Investigation also showed that a dollar is about N450 in Nigeria currency.

However, analysis showed that N450 would not afford anything in the country by the time fuel subsidy would be removed, following the predicted astronomical increase of price of commodities in the country.

Congress news recalled that federal government of Nigeria had earlier said it would remove fuel subsidy in the country by the end of February 2022.

It reiterated that the government of the country is now spending over 40billion naira on subsidy per annum, adding that removing the subsidy would make the country to save such amount to cater for developmental programmes in the country.

However, Nigerians had rejected the plan by the government reason being that it will cost more hardship in the country.

Meanwhile, the Nigeria Labour Congress, NLC, had threatened to embarked on nationwide protest by January 27, 2022.