Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • About
    • Advertise
    • Contribute
    • Donate
    • Forum
    • Contact
    Login
    InfoStride NewsInfoStride News
    • Home
    • Business
    • Celebrity
    • Crime
    • Nigeria
    • Politics
    • Sports
    • Technology
    • More
      • COVID-19
      • Editor’s Picks
      • Health
      • Opinions
      • Press Releases
      • World
    Subscribe
    InfoStride NewsInfoStride News
    Home»Business Matters»Fuel subsidy doubts as election nears

    Fuel subsidy doubts as election nears

    Business Matters By Temitope N.Jan 1, 2022No Comments2 Mins Read
    Facebook Twitter WhatsApp Pinterest LinkedIn Tumblr Email Reddit VKontakte

    The Centre for the Promotion of Private Enterprise (CPPE) has expressed reservations about government’s political will to remove fuel subsidies.

    A fuel nozzle
    A Fuel nozzle

    Although the CPPE stated that the outlook for the Nigerian economy in 2022 is largely positive, it noted that Gross Domestic Product (GDP) growth would remain fragile and projected at three per cent threshold.

    The centre warned that the seemingly intractable problem of insecurity remains a significant risk to the economy and the impact on some sectors, especially agriculture would be profound.

    The CPPE added that there are also concerns about the effect on the perception of Nigeria as an investment destination and implications for Nigeria risk rating.

    See also  KANN utility agree to settle out of court

    According to the CPPE, the timing of the proposed subsidy removal, alongside the 2023 elections, raises concerns for political actors to implement certain anti-populist policies.

    In the 2022 economic outlook released yesterday, the Chief Executive Officer of CPPE, Dr Muda Yusuf, noted that the burden of petroleum subsidies on government finances might persist in 2022 despite the Petroleum Industry Act (PIA).

    Indeed, the Nigerian National Petroleum Company Limited has put the amount spent on subsidising Premium Motor Spirit, popularly called petrol, between January and October 2021, at N1.03tn.

    Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate

    Election Fuel Subsidy
    Share. Facebook Twitter WhatsApp Pinterest Reddit Tumblr VKontakte Email LinkedIn

    Related Posts

    FG Allocates N81.7bn for Streetlights Construction in 2023 Budget, Higher Than Total Amount for Schools and PHCs Combined

    Jun 2, 2023

    SDP backs Tinubu on fuel subsidy removal

    Jun 2, 2023

    OPINION: Fuel Subsidy – Making Sense of the Real Enemy

    Jun 2, 2023

    Immediate Key Economic Policies of President Bola Tinubu’s Administration

    May 29, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Get Social with Us
    • Facebook
    • Twitter
    • Pinterest 95
    • Instagram
    • YouTube
    Latest Posts

    President Tinubu Appoints Femi Gbajabiamila COS, Senator Ibrahim Hadejia, DCOS, George Akume, SGF

    Jun 2, 2023

    Jackie Is Chasing Clout By Attacking Hilda Bassey – Okon Lagos

    Jun 2, 2023

    Messi Knows Barcelona’s Doors Will Always Be Open To Him – Xavi

    Jun 2, 2023

    I Have 3 Sons Now – Kizz Daniel

    Jun 2, 2023

    Subscribe to Updates

    Get the latest breaking news straight into your inbox!

    Random News

    Imo Assembly Begins Plenary, As Speaker Urges Colleagues On Productivity

    Sep 24, 2021

    We Are Broke, House Of Reps Cries Out

    Mar 11, 2021

    Insurgency: Nigerian Army Collaborating With Foreign Militaries – Minimah

    Jun 11, 2015

    Olu Maintain, TJAN Perform At Seyi Sodimu’s Comeback Live Concert

    Jul 24, 2016

    InfoStride News delivers the latest breaking news, Nigeria news, world news and top stories on business, celebrity, entertainment, politics, sports, technology and more. Experience the best of in-depth coverage, special reports, football highlights, political opinions, crime watch, celebrity gossips etc.

    GooglePlay Store Button

    Support InfoStride News' Credible Journalism

    Credible journalism involves a lot of efforts and money; and can guarantee a fair, accountable and transparent society, including democracy and government. We need your support to continue offering free access to our loyal readers and visitors like you.

    Click here to Donate

    Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • Our Terms
    © 2023 InfoStride News. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Continue with Facebook
    Continue with Google
    Continue with Twitter
    Lost password?