…Says He’ll Give those Drinking Petrol Subsidy Water
The presidential candidate of the Labour Party (LP), Peter Obi has vowed that petroleum subsidy won’t see the daylight if he is elected into power in the next month’s presidential poll.
The presidential candidate who spoke during The People’s Townhall programme organised by Channels Television, Sunday and monitored by The New Diplomat, unequivocally said from day one in office he will ensure subsidy is totally removed as planned by the incumbent administration of President Muhammadu Buhari.
This is as he described the concept of subsidy in the country as an organised crime perpetrated by some power brokers in the top echelon of government.
The New Diplomat reports that the administration of Buhari, after several back-and-forths has put in place a guideline that would ensure the payment of fuel subsidy by the Federal Government ends by June 30, 2023.
Reacting to the policy, Obi described it as a welcome development, saying if elected into office he would ensure the subsidy is removed on his first day.
According to him, Nigeria is in dire need of money for social and infrastructural developments, hence the need for the huge chunk of money used for subsiding petroleum products to be invested into developing the country.
In his words, “What they’re telling you is not what it is. Half of what is being mentioned is not subsidy. First is that we consume the quantity that is not supposed to be consumed here. We are the same population with Pakistan. They consume below 50 percent of what we consume.
“So, the first half, I will remove it and give those people who are drinking it water, because that’s what they’re supposed to drink, so we can save the money.
“Look at this year’s budget: education, which is the highest since this government came, is about N2 trillion. Health, which is the highest since this government came, is about N1.5 trillion. Then infrastructure, which is roads and everything, is about N1 trillion.
“These three critical development areas are receiving N4.5 trillion. Subsidy is N3.6 trillion…half year. So, if it’s a full year, it’s about N7 trillion. Which country will invest more in subsidy than education and health and even roads? It doesn’t make sense.
“This is our annual budget of education, 2trillion, annual budget of health, 1.5 trillion, road infrastructure, 1trillion and subsidy half year is 3.6 trillion, it(subsidy) will go immediately,” he said.
