Nigeria, President Goodluck said today (Sunday) that he did not say he will remove oil subsidy. The President on his media chat said he was misquoted by the media adding that he could not have said so since provision was made in the 2013 budget for oil subsidy.
He said that he only alluded to Canada that has 50 refineries which are privately owned but managed under regulation, stressing that if Nigeria must get to their level, then, there must be the need to deregulate the petroleum sector so that investors will see the need to build refineries the way it is in Canada.
“I did not say we are deregulating. We already have provision in the 2013 budget for oil subsidy. If we want to remove oil subsidy we will not have made provision for subsidy.The president said that government has not revoked the Manitoba Power contract against rumours adding that there are issues that are currently being resolved.He said government is fighting corruption adding that the results are obvious, pointing the fertiliser distribution as a case in point. He said reputable agencies are already interested in learning from the Nigerian experience. He said he will not say whether or not he will run in 2015 so as not to heat up the polity.