Subsidy Removal Needed For Nigeria’s Economy

Former Director-General of the Lagos State Chamber of Commerce and Industry, Muda Yusuf, has backed the removal of fuel subsidy, saying the move is necessary for the nation’s economy to stand. <br />Yusuf condemned a situation, whereby the Federal Government spends N3 trillion annually on fuel subsidies. <br />He says for this economy to continue to stand, subsidy removal has to happen. <br />He added that they cannot continue with a situation whereby they will be spending close to N3 trillion annually on subsidies and not just because of that, because of the investment, macro-economic implication.