A former CEO of Neimeth Pharmaceutical, Sam Ohuabunwa, has lambasted the President, Major-General Muhammadu Buhari (red) over his failure to deregulate the oil and gas sector.
“First, official deregulation will mean that many more companies and oil marketers can import fuel under the supervision of the regulatory agency, thus immediately easing the scarcity and ending the double jeopardy of many motorists and road users.
Ohuabunwa argued that those who travelled in commercial vehicles during the season faced a lot of challenges. Secondly and most important, official deregulation now will obviate the need for more subsidy payment and, at least, we can save the N3.5tn budgeted for the first six months of this year by this outgoing government.”
“Thirdly, it will disabuse the minds of some Nigerians who speculate that this N3.5tn has been put in the budget for other purposes including election funding and sendoff and parting gifts for the government officials and politicians of the party in power. This set of Nigerians can see that government has ‘surreptitiously’ deregulated while still retaining subsidy payments. And they ask for what purpose? Hence the speculation.
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