World Economy

Subsidy Removal

Subsidy RemovalSubsidy Removal

There was a sharp division among Nigeria’s leading economists and financial analysts on Saturday over Friday’s call by the Emir of Kano and a former Central Bank of Nigeria governor, Muhammad Sanusi II, for the devaluation of the naira, with most kicking against the call, NewsNow reported. However, they were unanimous on the call for the immediate removal of the subsidy on petroleum products in the country. The former apex bank governor had stressed the need for the federal government to completely remove the fuel subsidy and to reconsider stance against naira devaluation, saying the country cannot continue to live “in denial.”