By Enyichukwu Enemanna
President of the Nigerian Senate, Godswill Akpabio has applauded the decision of the Federal Government to end subsidy on premium motor spirit, a decision he says will address chronic underhand dealings and corruption in the petroleum sector.
Bola Tinubu had during his inaugural speech as Nigeria’s 16th President on May 29 announced that “fuel subsidy is gone”, stating that no provision was made for it in the 2023 budget.
This decision led to a sharp increase, to the tune of over 200% on the pump price of fuel.
Akpabio a former Governor of Akwa Ibom State who spoke while receiving in courtesy, the Governor of Ekiti State, Abiodun Oyebanji and members of the National Assembly from the state, said the removal of fuel subsidy was the beginning of fighting corruption in the system.
The former Minister of Niger Delta Affairs also remarked that arising from the effects of subsidy removal, especially inflation, the federal government is considering upward review of workers’ salaries.
“Nigeria as a country would not have survived the next few years if the fuel subsidy had not been removed, adding, salaries and wages of workers would be reviewed in order to ensure that Nigerians have a living wage,” the Senate President was quoted as saying in a statement from his media office.
The subsidy removal has equally brought about increase in transportation cost, food items and other essentials in the Africa’s most populous nation.
The actual volume of fuel consumed in Nigeria has on recent times been a subject of controversy, with relevant government agencies giving contradictory figures, which analysts believe are inflated.
It has been alleged that the figures being attributed to have been consumed in Nigeria are part of petroleum products smuggled out of the country to neighbouring nations through the porous borders.
