Removal of subsidy most important reform on wish-list of investors, Analysts .

Business Day

19 December 2011

Removal of subsidy most important reform on wish-list of investors, Analysts .

A practical demonstration of political will by the removal of petroleum subsidy would be a powerful statement of intent by the government and probably the single most important reform on the wish-list of investors, analysts said at the weekend.

The analysts were unanimous in their submission that the eventual removal of fuel subsidy by the Goodluck Jonathan government, despite opposition, would be its most courageous decision and that Jonathan’s administration would then be recorded as one of the most responsive governments in the annals of the country’s history.

The analysts, including those of FBN Capital, Razia Khan of Standard Chartered Bank, London, Johnson Chukwu, managing director/chief executive officer, Cowry Asset Management Limited and Akinbamidele Akintola of the Renaissance Group, were of the opinion that the action would mark the Jonathan’s presidency in the way that the Niger Delta amnesty marked the Yar’Adua presidency.