Vice-presidential debate: Retain subsidy or pay N220 for petrol – Osinbajo [READ MORE]

 

Vice- President Yemi Osinbajo says the Federal Government cannot remove petroleum subsidy now because of the effect it will have on Nigerians .

He added that petrol price could go as high as N 220 if it is removed .

Osinbajo said this at the Vice -Presidential debate organised by the Broadcast Organisation of Nigeria and the Nigeria Elections Debate Group .

He said today , the NNPC is the sole importer of petroleum . So , it is from the balance sheet of the NNPC that the subsidy is being taken . Now , let me say that if today , you are to remove subsidy , petrol price could go as high as N 220 per litre or higher . There is no country in the world , not even the wealthiest ones that don’ t run some type of subsidy or the other .”

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