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Ezekwesili urges FG to Scrap fuel subsidy

by OtownGist

The presidential candidate of the Allied Congress Party of Nigeria, Dr Obiageli Ezekwesili, on Saturday stressed the need for a ‘pressing’ reform in the oil sector.

She therefore demanded for an immediate end to oil subsidy in Nigeria, saying, “it gives little or no benefit.”

According to her, ending the oil subsidy and reforming the petroleum sector are some of her plans if she emerges as the president of Nigeria in 2019.

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Ezekwesili expressed the view in a statement she issued, which was obtained by journalists in Abuja.

She said, “End fuel subsidy regime and fully deregulate the sector. The most pressing reform is the immediate removal of the fuel subsidy. A subsidy that costs N1.3tn, yet provides little or no benefits to the most vulnerable members of society, must be discontinued.

“Cancelling the fuel subsidy allows the country to focus on the equally important task of deregulating the entire oil sector, including the Nigerian National Petroleum Corporation and ensuring that it is subject to the competition and discipline of the open market.”

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