The presidential candidate of the Labour Party, Peter Obi, has described fuel subsidy as an organized crime with the backing of the government.
The LP stressed that government is behind oil theft in the country insisting that no one can steal oil except the government.
Obi was a guest speaker at the Private Sector Economic Forum of Lagos Chamber of Commerce and Industry on Monday.
Obi who condemned the regime of subsidy advocated @aggressive production of local refining.”
“Make resources available to ensure a private-sector led oil refining,” the former Anambra State governor challenged the Federal Government.
Obi spoke while answering questions from panelists at the event and also reacted to a question on the issue of the cost of governance.
“I have allergies to waste,” declared Obi who took a swipe at the government again.
He insisted that there was a need for an overhaul of the security architecture in the country, proposing multi-level policing from the federal to the community security system.
Oil theft, debt burden, subsidy regime, foreign exchange, and other economic issues were core areas the forum expected each of the candidates to address ahead of the 2023 elections.
The LCCI, which has organised the event for the past 16 years, said it was interested in the economic agenda of each of the candidates aspiring to take over the leadership mantle at the end of President Muhammadu Buhari’s administration.
Culled from The Network News