Group Backs President Tinubu, NNPCL on Fuel Subsidy Removal

Group  Backs President Tinubu, NNPCL on Fuel Subsidy Removal 



Coalition for Good Governance and Economic Development (CGGED) as a group of concerned Nigerians  that Fuel subsidy should removed to allow the market forces of demand and supply to determine pump price of petroleum henceforth.

In a press release signed by the National Coordinator, Comrade Usman Abdulkadir and made available to the press on Wednesday, the group explained, their  decision to support the removal of fuel subsidy is because, it discovered from the  advantages of removing the fuel subsidy far outweighs the disadvantages business and economic development .

The National Coordinator also  explained the  failure of previous administrations to take decisive steps in order  to stop importation of Premium Motor Spirit (PMS), and outright removal of subsidy was the reason behind the  recurring scarcity and fuel queues at our filling stations across the country .

Abdulkadir further noted that with the  dwindling economy and paucity of funds, Nigeria cannot  afford to continue to pay 1.2 Trillion naira monthly as fuel subsidy.

The group Coordinator further noted that, "If there is provisions made for fuel subsidy in the budget , how do we expect the current administration to pay for what is not appropriated for ? Any attempt to pay for subsidy now , will surely amount to breach law .More so, that government can't withdraw money illegally to pay subsidy.

We now understand why the Management of Engineer Mele Kyari led NNPCL during  an emergency press conference held  at the NNPC Towers, Abuja, told Nigerians that the move was in the best interest of the company.

The Chief Executive Officer of the NNPCL revealed that the company has been spending a substantial amount of its profits in the subsidy of the product

He concluded," it is against this background that we insist on removal of subsidy and the money used to pay subsidy in the past be used for development of agricultural and industrial Sectors.

"We strongly believe that doing so will  lead to high production of food and raw materials for industries as well as employment generation". He added . 

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