Fuel subsidy removal: ‘N400bn savings’ don raise questions
After more than 30 days of fuel subsidy removal, di controversy surrounding di projected N400 billion savings don raise questions.
In February dis year, di Group Executive Officer of di Nigerian National Petroleum Corporation Limited, NNPCL, Mr Mele Kyari, yarn say di Kontri dey spend over N400 billion monthly on fuel subsidies.
Also, hin yarn say di Nation go save di amount wey dem don spend on subsidy after di removal.
For di first half of 2023, di Kontri spend N3.35 trillion on fuel subsidies according to di 2023-2035 medium-term expenditure framework and fiscal strategy paper, MTEF & FSP.
Also, NPCL attribute zero remittance to Federation Account Allocation Committee (FAAC) to fuel subsidy payment.
But with di removal of fuel subsidies in June dis year, President Bola Ahmed Tinubu’s administration neva reveal di details of di savings from subsidy removal.
Also, Nigerians neva see di light with di $800 million world bank loan wey former president Muhammadu Buhari administration collect for fuel subsidy removal palliative.
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Hence, di citizens dey struggle with di effect of subsidy removal wey don increase di prices of transportation, goods and services.
Consequently, di Socio-Economic Rights and Accountability Project, SERAP, inside statement for weekend, ask di government make dem release di details of di savings from fuel subsidy removal.
SERAP, like some Nigerians, dey worried about di projected savings from fuel subsidy removal.
No wonder Daniel Bwala, di spokesperson for di Atiku-Okowa Presidential Council, yarn say Nigerians dey suffer because of di poor implementation of di subsidy removal.
In addition, hin mention say Tinubu administration need to put measures in place to cushion di subsidy removal effects.
Fawibe, di Chairman of International Energy Services Limited (IESL), note am say Tinubu don collect warning make hin no allow anybody squander di World Bank $800 million loan for fuel subsidy palliative.
You fit go read di tori see as di fuel subsidy matter of N400 billion savings raise questions…READ MORE
