To remove subsidy is bold, but to clean up oil sector is the bolder decision, Laolu Akande Tells Tinubu
Former Presidential spokesman, Laolu Akande, has appealed to President Bola Ahmed Tinubu to reconsider the complete elimination of fuel subsidies, stressing that Nigerians are having to deal with the recent increase in petrol prices. On Friday’s My Take segment of Channels TV’s Inside Sources with Laolu Akande, he presented several urgent facts and drastic decisions […]
Former Presidential spokesman, Laolu Akande, has appealed to President Bola Ahmed Tinubu to reconsider the complete elimination of fuel subsidies, stressing that Nigerians are having to deal with the recent increase in petrol prices.
On Friday’s My Take segment of Channels TV’s Inside Sources with Laolu Akande, he presented several urgent facts and drastic decisions that the president must make in order to rebuild public trust and reduce citizens’ economic burden.
The veteran journalist said, “Some forms of manageable subsidy will have to remain because we just can’t let this thing be entirely market based. Our people cannot afford it. As simple as that! Who will tell the president that if he comes clean this way, there is a good chance that Nigerians can start to listen to him and he can begin to build a trust with the people?”
“The subsidy removed in May 2023 at the president’s inauguration had to be partially restored a few months later. The reason for this was because the pump price went higher than anticipated, and the administration had to intervene to provide a little succor for the people.
“Even right now, the pump price is upward of N800 to N1,200 depending on where you buy a liter. Government is still providing a little subsidy.”
This, Akande emphasized, must be communicated clearly to the public, as many Nigerians believe that the subsidy was entirely removed.
“Who will tell the president that if he doesn’t have the courage to take on the corruption happening in the oil and gas sector eyeball to eyeball, why is he talking to us about the discipline in China?” Akande questioned, referring to Tinubu’s recent remarks during his visit to China. Who will tell the president that the inefficiencies in the NNPC and the oil and gas sector amount to gross indiscipline?”
Akande pointed out that the oil sector, which is the backbone of Nigeria’s economy, remains rife with inefficiencies that directly contribute to the hardships faced by ordinary Nigerians.
He called on Tinubu to act swiftly, noting that failure to reform the sector would exacerbate the economic crisis.
“Without the president wanting to terminate once and for all the inefficiencies in the NNPCL, the hardship the average Nigerian is undergoing will continue unabated and even worsen,” he warned.
“Why should he, as president, tolerate such? To remove subsidy is bold, but to clean up the oil sector is the bolder decision that he has to take!”
Akande also highlighted the potential political fallout if the president delayed reforms.
“Who will tell the president that if he delays to take the bolder decisions to fight corruption and indiscipline in the sector, the people who voted him into power will continue to carry the burden and suffer for a much longer time? But why should they suffer when there is a way out?” he asked.
“President Bola Ahmed Tinubu said, ‘China is a very disciplined society. And we have to be disciplined too. Without discipline and commitment, we cannot build a nation that is respected everywhere in the world.’ Now, these are very promising pronouncements by our president. But, back here at home, Nigerians are very distressed with the hike in the pump price of petrol,” Akande said, highlighting the growing discontent among citizens.
Akande argued that the first step to alleviating the national frustration over rising fuel costs is for the president to be transparent about the state of the oil subsidy and the reasons behind its partial restoration. He presented three critical “truths” that the president must acknowledge publicly to build trust with the Nigerian people.