For months, the Federal Government has been canvassing for the removal of the fuel subsidy, with President Goodluck Jonathan saying that the country would collapse if government continued to support the subsidy.
In 2011 for instance, N240 billion was budgeted for fuel subsidy, however, the Petroleum Minister Diezani Alison-Madueke revealed that N1.3trillion had been spent on subsidy during the year.
According to the President, money realised from the subsidy can be channelled into infrastructural development.