Harnie Gold
Member
Governor of Nasarawa State, Abdulahi Sule, on behalf of The National Economic Council (NEC) has asked Nigerians to expect their decision as regards the petrol subsidy policy in June when the provision for its payment in the 2022 budget expires.
Governor Sule and his Edo state counterpart Governor Obaseki made this known on Thursday, 21, 2022, while responding to questions from State House correspondents on the outcome of the meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.
Governor Sule said: “I think in addition to that, what you have to understand, we didn’t make any presentations on this because there has not been a decision. But in reality, all of us Nigerians know that there is now the Petroleum Industry Act.
“NNPC is now a limited liability company, so it will run differently. If the Minister of Finance provides for six months, you probably can understand part of the reason for provision of six months before NNPC fully takes off and at that moment, that’s when decisions will be made".
But Governor Obaseki said: “As you all know, the issue of subsidy has been one matter that NEC has deliberated upon for more than a year now. There was an ad hoc committee which was set up by NEC, headed by Governor Nasir el-Rufai of Kaduna State that included members of the executive arm of government that worked on recommendations as to what we should do about the costs of PMS locally.
“Because as you realize, as has been told us, the cost of PMS in Nigeria today is about N162 per litre, whereas countries surrounding Nigeria are selling the same product at more than 100% of the cost in Nigeria. The country as at last year, spent in excess of billions, we need to have the exact figures, but we must have spent almost N2 trillion subsidizing petroleum products".
However, this is coming after, General Abdulsalami Abubakar, former Head of State, spoke against the removal of petrol subsidy on the 19th Daily Trust Dialogue in Abuja.
He stated that: “The expected fuel price increment will push more Nigerians into poverty".
General Abdulsalami Abubakar added that "Over 80 million Nigerians are still wallowing in poverty. Nigeria faces a food crisis worsened by the global COVID-19 pandemic.”
Governor Sule and his Edo state counterpart Governor Obaseki made this known on Thursday, 21, 2022, while responding to questions from State House correspondents on the outcome of the meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.
Governor Sule said: “I think in addition to that, what you have to understand, we didn’t make any presentations on this because there has not been a decision. But in reality, all of us Nigerians know that there is now the Petroleum Industry Act.
“NNPC is now a limited liability company, so it will run differently. If the Minister of Finance provides for six months, you probably can understand part of the reason for provision of six months before NNPC fully takes off and at that moment, that’s when decisions will be made".
But Governor Obaseki said: “As you all know, the issue of subsidy has been one matter that NEC has deliberated upon for more than a year now. There was an ad hoc committee which was set up by NEC, headed by Governor Nasir el-Rufai of Kaduna State that included members of the executive arm of government that worked on recommendations as to what we should do about the costs of PMS locally.
“Because as you realize, as has been told us, the cost of PMS in Nigeria today is about N162 per litre, whereas countries surrounding Nigeria are selling the same product at more than 100% of the cost in Nigeria. The country as at last year, spent in excess of billions, we need to have the exact figures, but we must have spent almost N2 trillion subsidizing petroleum products".
However, this is coming after, General Abdulsalami Abubakar, former Head of State, spoke against the removal of petrol subsidy on the 19th Daily Trust Dialogue in Abuja.
He stated that: “The expected fuel price increment will push more Nigerians into poverty".
General Abdulsalami Abubakar added that "Over 80 million Nigerians are still wallowing in poverty. Nigeria faces a food crisis worsened by the global COVID-19 pandemic.”