Fuel Subsidy Was Detrimental To Nigeria’s Development, Job Creation – Okocha’

Former national chairman of protocols/logistics committee of the defunct Tinubu-Shettima Grassroots Independent Campaign Council (TSGICC), Chief Tony Okocha, has said fuel subsidy was an indispensable conduit pipe and albatross to the country’s infrastructure development and job creation.

He described fuel subsidy as “one of the longest discussed policies of governments”, saying President Bola Ahmed Tinubu did not need to vacillate between opinions on the issue of removal of fuel subsidy.

Okocha, who is a leader of the All Progressives Congress (APC) in Rivers State, spoke in an interview with journalists in Port Harcourt.

He stated that available statistics had shown that the total amount deployed to fuel subsidy monthly out-weighed the amount used to pay salaries and emoluments of workers in the federal civil service each month.

He said:  “I recall during former president Goodluck Jonathan’s administration he attempted fuel subsidy removal but without being stern and resolute, he lost it to a more prepared civil society led by the Nigeria Labour Congress. Streets were occupied, protesting what was referred to an obnoxious decision.

“The issue is: How has fuel subsidy helped Nigeria? What is fuel subsidy in fact? Fuel subsidy is simply the situation where government picks a huge chunk of the costs of refined fuel importations into Nigeria with a bid to make it a bit affordable to the end users. How has it helped Nigeria?

“Judging critically though some have argued that fuel subsidised by government is an altruistic policy as it makes the cost less expensive to Nigerians. Is that truly the case? From where is the subsidy money coming? What is the impact of such expenditure on other facets of our society-education, health, economy, etc?”