…….To hold a rally in support of fuel subsidy removal.
About 32 civil society organisations (CSOs) under the aegis of the “Integrity Youth Alliance” have hailed the Federal Government over fuel subsidy removal in Nigeria.
The Alliance gave the commendation in a 5-point communiqué issued at the end of its National Executive Committee meeting in Abuja on Monday.
In the communiqué, which was signed by the Alliance Patron, Adewole Kehinde, and the National Publicity Secretary, Danjuma Lamido, the Alliance said it was a right step in the right direction.
The Alliance noted that the subsidy regime was unsustainable, adding that the best way to tackle the problem was to remove it.
Adewole said that if the money being paid as a cost of fuel subsidies was channelled into the provision of infrastructure and other social sectors of the economy, there would be growth and development.
They further recommended that the fuel subsidy regime be stopped immediately in line with the provisions of the Petroleum Industry Act.
They said the subsidy regime was a major challenge, forcing the federal government into external borrowing.
“The fuel subsidy regime was a capitalist and elitist policy that served only the top-heavy; hence, successive governments found it difficult to implement their economic policies.
“The development was largely responsible for national debts, as revenue coming into the Consolidated Revenue Fund accounts is used to settle the fuel subsidy.”
They called on the Nigeria Labour Congress not to embark on a strike on account of ending subsidies but rather to ensure all money saved on subsidy removal is used justly to alleviate the suffering of Nigerians.
“If the Nigeria Labour Congress insists on embarking on protest against fuel subsidy removal, we shall embark on protest in support of fuel subsidy removal by telling Nigerians the benefits of removing fuel subsidy.
“It is time Nigerians support the Federal Government of Nigeria to end the fuel subsidy regime based on the PIA in order to save the sum of N1 trillion yearly as the economy of Nigeria has become very fragile given the financial burden orchestrated by the subsidy regime.
“That Nigeria is a monolithic economy as such, revenue earnings must be jealously guarded and should be channelled into road construction, power, education, health, and the development of its youth.
“The Nigeria Labour Congress should be considerate and not embark on strike action in the circumstance that the Federal government has ended the fuel subsidy regime, given the reversal of huge resources back into the federal government coffers.
“The Federal Government and all stakeholders in the oil and gas industry should strictly enforce the provisions of the Petroleum Industry Act (PIA), which came into effect after it was signed into law by President Muhammadu Buhari.
“The federal government, private, and public sectors should embark on sensitising Nigerians on the need for immediate removal of fuel subsidies in order to save the nation from further financial haemorrhage.
“The Alliance commends President Bola Ahmed Tinubu for supporting the subsidy removal and the Group Chief Executive Officer of Nigeria National Petroleum Company (NNPC) Limited, Mal Mele Kyari, for his commitment to the stability of the oil and gas industry in Nigeria.”
