President Buhari to end fuel subsidy next year, PMS to sell for N97 per liter

When Ministers for Budget and National Planning, Udoma Udo Udoma; Finance, Mrs Kemi Adeosun and State for Petroleum Resource, Ibe Kachikwu; Governor, Central Bank of Nigeria, Godwin Emefiele and Executive Chairman, Federal Inland Revenue Service, FIRS, Babatunde Fowler, appeared before a National Assembly committee on Monday to defend the Medium Term Expenditure Framework (MTEF), they disclosed that the federal government would move the price of Premium Motor Spirit (PMS) from N87 to N97 per litre in 2016, while removing the subsidy paid on the product.

How Nigeria Landed Itself in Fuel Scarcity Mess! - Omojuwa Writes

People line up to buy fuel last week at Mobil gas station in Lagos, Nigeria.

Japheth Omojuwa is a Nigerian blogger, political commentator and environmental consultant. A columnist with Nigerian newspaper The Punch and Metropole Magazine, he recently concluded a six-month stint as a lecturer at Free University of Berlin. The views expressed are solely those of the author.

(CNN)Nigeria is the biggest exporter of petroleum in Africa and one of the world's largest exporters, it is also the one country in the world where its citizens often have to live through months of fuel scarcity.