Inasmuch as i believe in the ability of this present Government, i must admit that i was taken aback by its decision to completely deregulate the downstream sector by removing fuel subsidies at this time. While the current dwindling oil prices coupled with the recent destruction of oil installations by the NDA might be reasonable justifications for the 67.7% increment in the retail prices of PMS, i strongly disagree on the timing of such an act. The year 2016 has been a terribly rough year for Nigerians no thanks to the previously mentioned unfortunate incidences, we are faced with massive retrenchments, short-staffing, unemployment, high food prices, and so on. The least we deserve at this time is a 67.7% increment in PMS which also translates into the same percentage increment in prices of food items, rent, fares, and in general all goods and services.
I also believe this government is taking a MAJOR UNAVOIDABLE RISK at this time. I hope it ends well.