Furore over oil subsidy removal

The planned subsidy removal by the federal government next year has sparked off mixed reactions from Labour, Organised Private Sector and the Central Bank of NIgeria (CBN). While some operators in the organised private sector welcomed the development saying it is long over due, Labour on its part said it will hurt the economy and vowed to resist the move. Those who are for the removal have said that subsidy has caused a lot of distortion in the Nigerian economy and has denied the nation the needed investment in refineries.
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