Fuel Subsidy Must Go, Says Buhari Transition Committee

Every learned person in Nigeria, who has been monitoring the issue of subsidy being implemented on Petroleum products in the country, knows that fuels subsidy is a scam and should have been done away with a long time ago.

It is therefore not surprising when The Punch reported on its website that the transition committee set up by shortly after he was declared the winner of the March 28 presidential election has advised him to end the fuel subsidy programme and privatise the nation’s four refineries.

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“The removal of the fuel subsidy is one of the recommendations of the transition committee,” said a senior source, who did not want to be named. “The committee also suggested to Mr. that the four refineries be privatised so that the government stops wasting money on annual turnaround maintenance,” he said.

Nigeria is top oil producer and has been ranked as the biggest economy in Africa, but despite this huge status of hers, the country heavily subsidises petrol and kerosene consumption and relies on imports for the bulk of its domestic demand due to an underperforming refining system.

The question that has often been asked in the past, and still being asked now is that: what exactly is stopping the highest producer of crude from putting her refineries in shape and ensure that they function at optimal capacity?

As at the time of filing this report, was yet to officially make known his intentions of either to follow the advise of his transition committee and remove fuel subsidy or disregard it entirely.

According to the ever dependable , , disclosed that it was premature to comment on the proposal by the committee since its report had not been officially released and discussed by the government.

In all of these, one thing is certain: Nigerians should be prepared to embrace change for the president of the country would not be rushed to easily disclosed how he intends to handle the delicate issue of fuel subsidy without running a critical assessment of the issue and weighing public opinion on the matter.



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