Amidst sustained criticisms and disaffection trailing the increase in the price of petrol by the Bola Tinubu administration, a group, Stand Up Nigeria, caused a stir at the National Assembly main gate today as they staged a protest in support of the hike.
Led by its Convener, Sunday Attah, the group said the anger being expressed by Nigerians was misplaced and needless.
Investigation revealed that the Nigerian National Petroleum Company Limited ( NNPCL) has increased price of Premium Motor Spirit (petrol) twice in two months since the inception of the present administration.
During the week, the Group Chief Executive Officer of the NNPCL, Mele Kyari, said the increase would continue as he maintained that it was subject to fluctuation in the prices of crude oil in the international market.
Attah, who addressed newsmen, declared that the increase was justifiable as he further claimed that the corruption in the downstream sector as a result of the subsidy regime has now been eradicated.
He said, “The announcement on the 29th May 2023, by President Bola Ahmed Tinubu, that the subsidy on fuel has been removed has come with mixed feelings.
“While some have hailed it as apt and timely, others have expressed reservation that it may cause further hardship on the citizenry.
“You will recall that the President anchored the policy on the fact that there was no provision for subsidy payment in the 2023 budget hence cannot be sustained.”
“Apart from that, the country was bleeding seriously through many leakages occasioned by corruption in high places, chiefly among which are the claims on subsidy payments to many firms.
“After observing the initial reaction to the measure and the attendant panic buying and other impacts on the socio-economic life of Nigerians, we wish to state that the President has done the right thing by removing the subsidy as the advantages of doing so outweigh the disadvantages.
“We have observed that the initial hiccups of long queues at the fuel stations have disappeared while access to petroleum products has become easier and guaranteed as people can now drive into filling stations and refill their tanks without wasting unnecessary man hours on queues.”
Attah said the Tinubu administration deserved applause, not condemnation, as he recalled that the previous administration lacked the courage to remove the subsidy regime.
“The opposition and those elements opposed to the measure should know that election is over, and all hands must be on deck to support the government to do what is right and in the interest of the people of the country.
“Past administrations have attempted to remove fuel subsidies but have not been successful due to opposition on the wrong belief that the implication of subsidy removal is just the increase in the price of fuel.
“There was also the suspicion that the proceeds made from the removal will be embezzled and the gains will not get to the intended beneficiaries.”
“But President Bola Ahmed Tinubu has shown that he has the integrity to use the funds for the development of the country and has announced a number of palliatives to cushion the effects of the increase in the price of fuel.
“We believe other measures would follow that will make Nigerians willing to see the increase in the price of petroleum products as a necessary sacrifice for growing the economy.”
“By the time the monies freed from subsidy removal are appropriated and plowed back into the economy, and all sectors begin to witness quantum growth, Nigerians would begin to see the positive effects of subsidy removal.”
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