PUNCH Online reports that ongoing speculations and debates continue regarding whether the Federal government removed the subsidy on PMS as announced by President Bola Tinubu in May 2023. One day, we’re told there’s a subsidy, and the next day, it’s gone—Nigerians deserve the truth. He also criticised the Federal Government’s decision to sell crude oil to Dangote’s refinery in naira, calling it disastrous for the country’s already volatile economy. He said, “This decision to sell crude in naira is a ticking time bomb. Crude oil is our major income generator, bringing in foreign currency that bolsters our external reserves.”“But now, our reserves are already depleted, and this policy could be the final nail in the coffin.”

Source: Punch August 09, 2024 15:19 UTC