While the Governor of Ekiti State, Kayode Fayemi, says that the removal of fuel subsidy will benefit poor Nigerians, financial experts argued that it would bring about increased hardships.
Fayemi, after the launch of the Nigerian Development Update by the World Bank in Abuja, says there was a need for proper communication on the economic status of the country.
According to him, the country wastes money on fuel subsidy, which does not benefit the poor.
He further says, Petrol subsidy does not really benefit the poor. It is the middle class and the rich who are beneficiaries of PMS (premium motor spirit) subsidy. And they have removed the diesel and kerosene subsidy.
Fayemi noted that there was an issue of trust between the people and the government, saying the government needed to be more accountable to the people.