OPINION BY JONATHAN NDA-ISAIAH: Fuel subsidy palaver | TheCable
In 2012, President Goodluck Jonathan’s administration attempted to break the pattern by eliminating fuel subsidy. However, the result was massive protests across the country, forcing him to reverse the decision.
During the presidential election campaign, the major candidates – Bola Tinubu of the All Progressive Congress, Atiku Abubakar of the Peoples Democratic Party, and Peter Obi of the Labour Party – all pledged to remove fuel subsidy. Most Nigerians, having heard such promises countless times before, were sceptical.Then came President Tinubu, who, on his inauguration day, declared to the entire country, “subsidy is gone”.
What surprises me the most about this situation is that those who were advocating for the removal of fuel subsidy have suddenly become staunch critics of the removal. Will there ever be an opportune moment to remove fuel subsidy in Nigeria? I doubt it. Even if all the refineries are operational, a significant portion of Nigerians and organised labour will still take to the streets.Will Tinubu backtrack on his pronouncement? I don’t believe so.
Tinubu has already informed the security chiefs that he will not tolerate oil theft. That is the right approach. He must follow through with his words. Reducing oil theft and boosting production will significantly improve our revenue.
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