Former governor of Ekiti State, Peter Ayodele Fayose, has opined that the decision of the newly sworn President of Nigeria, Asiwaju Bola Ahmed Tinubu, to remove oil subsidy is in the best interest of Nigerians.
Fayose in a series of tweets, on Wednesday, reacted to the sudden hike in the price of petrol across the country noting that the subsidy regime had only been benefiting a few people in the oil industry and Nigeria.
While lamenting the rate at which oil marketers take advantage of economic situations, Fayose said anyone found hoarding fuel or selling at an exorbitant rate should be dealt with.
His tweets read, “On this removal of fuel subsidy, I am convinced that President Tinubu has taken the best and the wisest decision for the collective good of Nigeria and its people. He promised to remove subsidy, he never hid it.
“Most importantly too, the immediate past govt already removed fuel subsidy technically by not making provision for it in the 2023 budget.
“I appeal to Nigerians to bear with the govt for now as the present hardship will ease out with time.
“Removing the fuel subsidy is the best thing to do and it has to be done once and for all.
“Unfortunately too, the subsidy regime had only been benefiting a few people in the oil industry and Nigeria must break these chains once and for all.
No doubt, President Tinubu is not a magician who can manufacture money. He can only strategically reposition the country, using his experience and intellect, which he has started.
“Many govts have come and paid lip service to all these issues, it is time to sustain our country by taking decisions that may be seen as harsh, but can return the country back to the path of progress.
“The NLC and all interested parties, especially ordinary Nigerians should realize that the last administration did more damage and the new govt can only be finding ways and means to stabilize the country.
“Sadly, like typical Nigerians who are always desirous of taking advantage of every situation, the fuel marketers are only interested in making money for themselves and methinks the govt should come very hard on them this time. Anyone among them found to be hoarding fuel or selling at an exorbitant rate should be dealt with.”
It would be recalled that President Bola Tinubu, on Monday, in his inaugural speech at Eagle Square, Abuja, said that his administration is phasing out the fuel subsidy regime which has increasingly favoured the rich more than the poor.
According to him, “Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.”
