A Chieftain of the All Progressive Congress, Senator Rilwan Adesoji Akanbi has commended President Bola Tinubu on his bold, decisive move in the removal of the fuel subsidy.
Akanbi who described the move as that of a ‘courageous president’ called on Nigerians to rally round the President to turn around the country for good.
“The subsidy removal is the only option and best decision for Nigeria’s survival. Mr President is on the right track. Indeed he is a courageous man who takes the bull by the horn. We must commend Mr President once again for termination of swapping crude oil for refined products.”
Akanbi went further to state that, “NNPC Limited daily consumption figures collapsed drastically as the components parts of the old figures were, real domestic consumption, petrol smuggling across the borders to neighbouring countries and non existent petrol consumption figures that only existed because it was assigned to bogus subsidy claims.”
Senator Rilwan Adesoji Akanbi however noted that, there’s hardship in the land, “the economy is biting hard and the petro-subsidy removal also has added more to the unfriendliness especially as it is felt more by the downtrodden majority.”
According to him, a time like this, calls for solutions to the hardship. He therefore proffered short short term, mid-term and long term solutions.
“As a short term solution, the fraud associated to oil subsidy has been exposed almost immediately with the removal by Mr. President, of the subsidy. Our “previous” daily consumption of 69m litres suddenly dropped to 13m litres per day. So National and State government reduction of working days should be made mandatory where an hour increment may be on the days available for work. Also, a day may be taken off from working school week, with an hour or two added to the school working days. Salary review with promised increment should be across board. Bouyant states can even go higher in order to cushion the hardship effect. Aggressive and well subsidized mass-transit (transportation) by the government will be helpful now. Open and liberalization of fuel Importation by all is a welcome idea. Effective quality control monitoring ànd a secured border should be emphasised. This shall curb the excesses of few bad eggs within the industry.
For Mid-term plans, the Senator said there should be a weighted evaluation towards the repair of our under-performing refineries considering the financial commitment and efforts of years back.
“With the liberalization of the oil industry, private refineries are coming on board, Dangote Refinery and modular refineries are examples. They must be encouraged by the government as to promote competiveness and disabuse the mind of citizens to anyone having a monopoly,” he said.
On long term solution, Akanbi pointed out that, “Our debt reduction is a must now. The saving that will accrue should be made available for infrastructure development, education, health facilities advancement and power sector improvement which will boost various micro, small and medium size enterprise and Industries. More jobs opportunity for all, along with availability of fund to various sectors and Industries.
“In the longer run, there should be a synergy where the State governments shall cooperate with Mr President by providing succour in various highlighted ways to the downtrodden. A better and improved standard of living for all Nigerians is paramount to Mr. President,” Senator Adesoji Akanbi added.
