Oil subsidy: Sanusi warns of grave consequences if...

[tabatha]

Governor, Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has warned of grave economic consequences for the nation if Nigerians did not support the proposed removal of oil subsidy.

He said though the removal was a painful decision by the government, it was necessary to secure the future of the country.

“To continue borrowing trillions of Naira and subsidising current consumption is to ask our children to pay for our comfort today. Stable economies are sick. There are dark clouds on the global horizon. It is easy to take unpalatable economic decision today that may be political in order to secure the future, the Universities have roles to play in ensuring this debate.

http://tribune.com.ng/sun/news/5711-oil-subsidy-sanusi-warns-of-grave-consequences-if

(A Nigerian gets it - does that mean the GOP have fallen behind Nigeria?)

[43to42]

1. Subsidy

You do realize they are talking about removing consumer subsidies right????????

[tabatha]

3. Yes, I was half asleep when reading that.

Thanks.

[MindMover]

2. Simply means the oil rich overlords have

persuaded the politicians in Nigeria to stop sending their oil to European refineries and to start building their own in Nigeria with a percentage going to the politicians and higher prices for the people.....capitalism at its finest.....