This could be a good policy for western world but for NIGERIA, NO.
You are only shifting corruption from one sector of the economy to another sector. I understand why the Federal Govt. want to deregulate and thereby take away the subsidy. They now want to invest this money in infrastructure. It sounds good to me for Sweden YES but for Nigeria, NO.
After 48 years of independence we have been investing on infrastructures, we cannot boost of reliable electricity, clean water, good roads , functional hospitals etc. This is because corruption has made it almost near impossible to realize any of purported investments in infrastructure. This is what is going to happen again. The Govt. should disregard the idea of implementing any of these purported investment on infrastructure until it has implemented what I will call One point agenda – FIGHT CORRUPTION.

If I may ask, if the price of petroleum products will go down due to deregulation then its Ok, but if it goes above 70 Naira then the govt should review its policy.

I am sure you know quiet alright that when the crude oil price starts going up, that will result in increase in pump price. Of what benefit will this be to the common man your Govt. is claiming to be working for?