FG is performing excellent over fuel regulation

Group Managing Director, NNPC, Dr. Emmanuel Kachikwu
Group Managing Director, NNPC, Dr. Emmanuel Kachikwucredits:  The punch 
The Federal Government under the leadership of President Muhammadu Buhari has been performing excellently since he assume office. The Federal Government has currently regulates the prices of petrol, and kerosene, and subsidizes their prices to enable Nigerians to get the products at the regulated prices.
The fixing of petroleum products’ prices is denying the country investment in the downstream sector of the oil and gas industry and depriving Nigerians certain benefits from the country’s petroleum resources, industry stakeholders said on Thursday.
According to The Puchng,
The Group Managing Director, Nigerian National Petroleum Corporation, Dr. Emmanuel Kachikwu, in his address at the National Association of Energy Correspondents’ conference in Lagos, said, “Subsidy creates distortions in government revenue distribution as a result of round-tripping and unnecessary carry-over of expenditures every year in a way that is difficult for government to control or sustain.”
He noted that subsidy accounted for 20 per cent of the Federal Government budget in 2013.

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