Remove subsidies on petroleum products, LCCI tells FG

The Lagos Chamber of Commerce and Industry has called on the Federal Government to completely remove subsidies on petroleum products.

While reacting to the outcome of the deliberations of the Senate on the 2015 draft budget, Medium Term Expenditure Framework and Fiscal Strategy Paper, the LCCI said the call for total subsidy removal was due to the fact that there had been a crash in the prices of crude oil, hence, there was no need to retain the subsidies on petrol and kerosene. Read more