The removal of subsidy on PMS and total deregulation of the downstream sector has been described as a smart move by President Mohammadu Buhari to curb corruption and check wastages.
A two-term former Lawmaker in the House of Representatives, Hon. Sunday Karimi, who made the disclosure on Wednesday while speaking with Newsmen in Lokoja, commended the president, stressing that past Governments since 1999 has been paying lip service to deregulation of the petroleum industry.
Karimi who represented Yagba Federal Constituency said, “One of the major drain pipes and sources of wastage and corruption in government finances has been the high subsidy paid by the government for the pump prices of petrol for ages, despite the fact that the effect of the subsidy does not reflect positively on the common man on the street.
“The decision by President Buhari to totally deregulate the sector is one borne out of his long term experience in the industry, and it is a decision taken in the right direction for the good of the country.”
Karimi who pointed out that the previous government demonstrated a lack of political will to save the nation from wastage and corruption, said the inadequacies by the previous leaders made most of our neighboring countries to enjoy greatly from the subsidy as the products were taken out fraudulently and sold to them at a bit higher rate.
“Only a few Nigerians will expect a President from the North to remove subsidy from petrol, but this sound policy is a product of courage only a leader, as President Muhammadu Buhari, would have done.”
He, however, said the gain from subsidy removal should be directed towards fixing the nation’s infrastructural decay, “Specifically, roads rehabilitation nationwide, welfare packages for citizens; are areas the subsidy removal should be channeled into.”