So Goodluck Jonathan is daring Nigerians abi?

So Nigerians woke up today to the news that fuel subsidy has been removed...meaning that we will now pay N141 per litter of fuel...which used to be N65...an incredible 100% + increase.

You know what this will do to Nigerians? It will cause unnecessary suffering. Everything from transportation to food, to goods and services..EVERYTHING will skyrocket. Untold hardship, especially on poor Nigerians. Did the people in power even wonder how the poor will survive?

We don't have 24/7 electricity in this country, most of the time we need to fuel our generators, we now have to fuel it for N141 per litre? Are these people serious?

The Federal Government have all this excuses why the subsidy removal is necessary, forgetting that we are an oil producing nation and if our refineries were working, all this won't be necessary. So they are punishing us for their incompetence? 

No security, no good roads, high level of unemployment...young people are frustrated, some are committing suicide and we now have to deal with this? How can we as citizens do nothing?

The PPPRA announcement when you continue...

PPPRA Announces Formal Removal of Subsidy on Premium Motor Spirit (PMS)
Following extensive consultation with stakeholders across the nation, the Petroleum Products Pricing Regulatory Agency (PPPRA) wishes to inform all stakeholders of the commencement of formal removal of subsidy on Premium Motor Spirit (PMS), in accordance with the powers conferred on the agency by the law establishing it, in compliance with Section 7 of PPPRA Act, 2004.

By this announcement, the downstream sub-sector of the petroleum industry is hereby deregulated for PMS. Service providers in the sector are now to procure products and sell same in accordance with the indicative benchmark price to be published forthnightly and posted on the PPPRA website.

Petroleum products marketers are to note that no one will be paid subsidy on PMS discharges after 1st January 2012.

Consumers are assured of adequate supply of quality products at prices that are competitive and non-exploitative and so there is no need for anyone to engage in panic buying or product hoarding.

The PPPRA in conjunction with the Department of Petroleum Resources (DPR) will ensure that consumers are not taken advantage of in any form or in any way.

The DPR will ensure that the interest of the consumer in terms of quality of products is guaranteed at all times and in line with international best practice.

In the coming weeks, the PPPRA will engage stakeholders in further consultation to ensure the continuation of this exercise in a hitch-free manner.

Signed:
Reginald Stanley
Executive Secretary, PPPRA