CEOs task FG on oil theft, subsidy to prevent economic collapse | The Guardian Nigeria News - Nigeria and World News

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To prevent the economy from total collapse, Chief Executive Officers (CEOs) have warned the Federal Government to urgently deal with the issues of oil theft and fuel subsidy removal via policy response that will bring about the desired change.

They argued that if the government does not resolve these issues before the next administration takes over, an economic crisis that would bedevil the country would not be easily curtailed.

He lamented that it was foolishness on the part of the government not to even try and increase pump fuel price from N165 to N200 or N250 per litre, knowing fully well that just a N10 or N30 increase will give the government almost N1 trillion. Okiti, while advocating the right economic policies, said it is until when Nigeria’s growth rate peaks significantly at nine to 10 per cent, that is when it could deal with income growth and poverty reduction.

 

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