The Fuel subsidy regime, according to the Progressive Governors Forum (PGF), is not a viable arrangement for the country’s economy.
Members of the forum expressed their support for President Bola Tinubu’s stance on the matter at a briefing held in Abuja on Friday.
Following a meeting with the president, Imo’s governor, Hope Uzodinma, told State House reporters that the administration’s choice to eliminate fuel subsidies was a result of inherited heritage.
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He added that the withdrawal of subsidies was long time and that Nigerians should be discussing sustainable solutions that would benefit every citizen.
“Firstly, the decision about removing fuel subsidy was what presidential candidates promised Nigerians during their campaigns. It is not something new.
“What the president did was only to say there is no allocation for subsidy in the 2023 budget from June, and that’s the reality.
“The removal of fuel subsidy was what we had decided as members of the economic team during the last administration of President Muhammadu Buhari,” he said.
According to Uzodinma, the long history of oil deregulation calls for patriotic responsibility to be resolved once and for all.
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“One may wonder why the rush to increase pump prices immediately. Since May 29, I don’t think anybody has imported fuel. What they are selling is still the old stock. We really need to be our brothers’ keepers. There is no way we can be like other nations that we admire without incorporating global practices. The private and public sectors must collaborate to ensure an economy that is free, fair, and competitive,” he said.
The governor went on to say that the fundamental problem still is that not enough Nigerians are taking advantage of the government’s subsidy program as promised.
“I am sure not many Nigerians are aware of the real issue of oil subsidy and those who are benefiting from it. The fact still remains that no nation can develop through unsustainable economic policies like the oil subsidy. A responsible government must look at it holistically and take a decision that is in the best interest of the citizens,” he said.
Uzodinma stated that the federal government was developing methods to mitigate the effects of the loss of the subsidy.
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He said: “Don’t forget that the President is a man of the people. He was the first governor to increase workers’ salaries in Lagos State. This time, we know he will do the same.’’
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