The Kaduna State Governor, Nasir el-Rufai, says Nigeria’s continued reliance on subsidy and cheap fuel has propelled its next door neighbour, Cameroon, to shut down its refinery.
El-Rufai disclosed that the monthly subsidy payments which costs the country over N250 billion is only to the benefit of neighbouring countries.
He further said the current fuel subsidy regime is not beneficial to Nigerians.
The governor, who spoke at the launch of the World Bank Nigeria Development Update, said, “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.
“So this hullabaloo about petrol is just something we must as a country have a conversation and agreed that it has to end, we cannot continue to provide petroleum gasoline to our neighbouring country, which is what we are doing.”
