An energy expert and former staff member of the Nigeria National Petroleum Company, Engineer (Dr.) Kailani Muhammad, said those kicking against the removal of the fuel subsidy are either ignorant about the economic advantages or misguided by a few selfish individuals.
According to him, the removal of fuel subsidy by President Bola Ahmed Tinubu is the best decision for Nigeria’s progress and development.
In his inaugural address on Monday, President Tinubu did declare an end to the era of subsidy payments, saying the 2023 budget made no provision for fuel subsidy, so further payments were no longer justifiable.
But this didn’t go down well with the labour unions and some Nigerians, who felt the decision was hasty.
Engineer Kailani Muhammad, who is also the National Coordinator of the Confederation of All Progressives Congress (APC) Support Groups’
In a reaction to the news on the subsidy removal, he said, “It is high time NLC, TUC, and other Nigerians face the reality of the pronouncement of the President and the decision of the national oil company, NNPCL, to support it.
While commending President Tinubu for taking the bold step to remove fuel subsidy and the management of NNPCL’s position to accept them in good faith, he noted that the subsidy era wreaked serious havoc on revenue generation and that NNPCL can’t afford to retain them under these harsh economic conditions.
He However, described as unfortunate the situation where Petroleum Marketers have within 24 hours of the pronouncement hiked prices of Premium Motor Spirit (PMS) otherwise known as petrol at the filling stations to over 700 naira per liter.
He further said, “Marketers hoarding: products should know that NNPCL had said no going back on the withdrawal of subsidy.
“NNPCL is doing its best to ensure an adequate supply of fuel to douse the problem of panic buying.”
He expressed joy that the Mele Kyari-led Management has already taken proactive measures to ensure constant fuel supply to avoid queues at filling stations.
Meanwhile, he asked Nigerians to embrace the decision by President Bola Ahmed Tinubu to reposition the oil industry and create a poll for the proceeds accrued from sales of PMS to be used for sustainable development.
“The idea of NLC and other labour unions threatening and demanding that the refineries must be working first before the withdrawal of subsidy is retrogressive and far from economic reality .” He stressed.
He urged Marketers to do the needful by opening stocks and selling to the public with the hope that market forces of supply and demand will determine pump prices of petrol henceforth.
According to him, Good Marketers will capitalise on the advantages and buy and sell at competitive reasonable prices and make more profit on investments.
Eng. Kailani noted that all stakeholders in the oil sector must come together to fashion a way out the crisis.
He however, called on Nigerians to support Tinubu-Shettima-led APC government with assurance that Nigerians will enjoy sustainable growth and development across all sectors of the economy. Adding, ” Tinubu has good intentions for the country”.
