The Chief Executive Officer of Coleman Wires and Cables, Mr George Onafowokan, has the removal of petrol subsidy in Nigeria will boost investment in the nation’s oil and gas industry. He, however, said the short-term effects of the removal of petrol subsidy would increase the cost of living. “Fuel price going up by 100 per cent or more does not mean an instantaneous 100 per cent increase on everything. We don’t look at the private sector impact of that decision. We need to get away from government direction to driving our economy through private sector.

Source: Punch February 06, 2022 08:15 UTC