Opinion I have also lived in the United States for over 2 decades and appreciate the fact that not all policies coming out of the “belly of the capital beast” are reasonable, genuine and for the good
of the American people.
Nigerian government introduced oil subsidy to cushion the effect of rising global oil prices in the 1970s. Oil subsidy has metamorphosed intoA large portion of NNPC’s withholding is spent on fuel subsidy payments, which are vulnerable to misappropriation and excessive spending. KPMG the global audit firm for example found that in three years, NNPC paid itself roughly $6.6 billion to fund the subsidy on 15.6 billion liters of products that “apparently were not available to the Nigerian market.
I call on the President Tinubu’s administration to look into the issue of citizen’s welfare raised by the professor - wages should be increased, provision of infrastructure like roads, cheap public transport system, education, health services and security among others.
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