A Civil Society Organisations coalition has hinted on plans to engineer “Fuel subsidy removal” in Nigeria.
The Coalition under the aegis of “Civil Society Coalition for Economic Development (CED), comprising of 82 groups disclosed this at a press conference in Abuja on Thursday,
The Coalition said they were committed to pushing for subsidy removal as well as engaging other stakeholders in some sectors of the economy to see reasons with the government on the need to lay fuel subsidy payment to rest.
The Convener of the group, Comrade Yusuf Dan Maitama told reporters that there was no better time for total removal of fuel subsidy in Nigeria than now, given the economic challenges the nation was going through.
The Coalition lamented that the fuel subsidy regime which had been in place for the past 20 years has enriched few individuals and denied citizens of what was supposed to be collective wealth, adding that moves by the present administration to end the subsidy regime was the right step.
The Coalition posited that the Nigeria National Petroleum Company’s commitment to implementing policies that ensures total removal of subsidy must be supported at all cost.
The Coalition said: “The fuel subsidy regime has in the last 20 years done more harm than good to the economy of the nation and it appears Nigeria is the only country in the world that has fuel subsidy regime in place.
“We have slated a conference for February 2022 and we are going to assemble top class oil experts to speak on reasons fuel subsidy regime should be put to rest”, the group said.
It is recalled that the Hon. Minister of Finance Budget and National Planning, Mrs Zainab Ahmed had recently disclosed to the Senate Committee on Finance that the Federal government would offer N5,000 transport grant to Nigerians to cushion the effect of fuel subsidy removal in 2022.
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