Subsidy Removal Solution To Fuel Smuggling To Neighbouring Countries – Arewa Group

A northern political pressure group, Arewa New Agenda (ANA), yesterday declared total support for President Ahmed Bola Tinubu on removal of the subsidy regime in Nigeria.

In a communique issued after a two-day policy dialogue on the fuel subsidy removal, convener of the group, Senator Ahmad Abubakar MoAllahyidi, said though the subsidy removal policy may have its economic challenges, the end will benefit Nigerians.

MoAllahyidi said though Arewa New Agenda recognises the pain occasioned by the increase in pump price of petroleum products, the removal of subsidy will prevent the diversion and smuggling of gasoline outside the country’s borders which bleeds the nation’s economy.

He said, “Government must stay on course with its current action; must not give in to blackmail nor capitulate under threat. It is the considered position of the policy dialogues as convened by ANA that under the DSDP, imported petrol belongs to the NNPCL since it (NNPCL) has supplied crude oil to the  marketers in exchange for petrol but the marketers usually keep the imported fuel to themselves and sell it to the independent marketers at arbitrary price.

RELATED

Ex-PDP Reconciliation Committee Chair Joins ADC In Gombe

2 hours ago

Election Outcomes: Yiaga Africa Backs New INEC Guidelines, Seeks Amendments

3 hours ago

“The removal of subsidy on PMS will among other things: Solve the problem of perennial hardship and the attendant hardship on citizens. It will put a stop to corruption around the subsidy regime which has made some individuals stupendously rich without industry.

“It will free-up the humongous amount paid out as subsidy for enhance growth in critical sectors of national development as well as reduce gasoline smuggling and diversion.”

The removal of fuel subsidy eliminates the unhealthy price arbitrage with neighboring countries”.

Noting that the critical economic activity will require all hands to be on deck for the prosperity of Nigeria, Senator MoAllahyidi said salaries and wages of workers in Nigeria is nothing to write home about and needs to be realistically reviewed.

The group further stated: “Dialogue with organised labor must be intensified. We caution labour not to politicise this genuine economic policy activity at this very early stage of the Tinubu administration.

“That vulnerable groups in Nigeria feel the impact of subsidy removal more and they should be the first line of consideration in provision of palliatives.

“That dialogue attendees support the decision of President Tinubu on the removal of subsidy and will do everything possible to help actualize the desire for improved life of the ordinary citizens”.