‘Revenue should be channeled to health, education’ — NEITI backs petrol subsidy removal

‘Revenue should be channeled to health, education’ — NEITI backs petrol subsidy removal | TheCable

has lauded President Bola Tinubu’s plan to enforce his predecessor’s decision to remove petrol subsidy by June ending.

She said NEITI data also showed that the amount expended on subsidy from 2005 to 2021 was equivalent to the entire budget for health, education, agriculture and defence in the last five years. Onuorah said in a policy advisory released by NEITI in late 2022 to drive home the urgency to remove subsidy and resubmitted earlier in the year 2023, the agency recommended eight steps to manage subsidy removal.

Suggesting other policy considerations, Onuorah said the government should commission a special report on actual PMS consumption in Nigeria, enforce stringent sanctions for criminal activities in the sector and conduct appropriate stakeholders’ consultations, engagements and enlightenment.

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