By Paul Odenyi,  Abuja
President Goodluck Jonathan has predicted that Nigeria would crash if the Federal Government failed to act fast by removing subsidy on petroleum products.

But some members of the National Assembly and the Edo State Governor Adams Oshiomhole said Nigeria will not break up beacuse of fuel subsidy.

According to a member of the House of Representatives, Bimbo Daramola, who was among members of the house who met with Jonathan to discuss the issues of Boko Haram and removal of oil subsidy among others, Jonathan said that Nigeria would ‘’crash’’ if the subsidy on petroleum products was not removed.

Daramola made the revealtions in an interview with Saturday Vanguard in Abuja, adding that those at the meeting at the Presidential Villa were not sufficiently convinced by what Jonathan told them as reasons for removal of fuel subsidy.

He said, “Mr. President did not sufficiently convince me or my other colleagues in the House of Representatives. I don’t want to be graphic with what happened there but I am telling you that it was a faux pau. ’’I do not think he achieved any purpose. I do not think he moved the story forward. I would say that his reasons did not appeal to Representatives.”

’’He tried to say and indeed made it clear to us that if he does not take out the subsidy, Nigeria will go down. In his own words, Nigeria will crash.

’’I do not think that was the right thing to say but I believe very strongly that the nobility of the intentions of Mr. President may not be questionable.

’’Like he said, it is not about Goodluck Jonathan it is about Nigeria. We are on the same page on that score. The truth of the matter however, is that there are so many ways that lead to the market.

’’His strongest argument was that it was becoming difficult to sustain the high subsidy regime on fuel products. He said if we go on this way, Nigeria will be in deep trouble. In his words: Nigeria will crash.

’The truth of the matter is that well we need more money, but there are many ancilliary issues that will to be sorted out. Removal of subsidy is not an isolated event.

’’This is an economy that is mono product – driven and we would expect that anything that happens to this product will resonate across the length and breadth of the country.

’’What the President did was all rationalization. He said the guys who move the product to the market donot actually use Premium Motor Spirit, PMS; that they use diesel. These are simplistic rationalizations.

’’He also tried to say that the subsidy we are talking about does not profit Nigerians but a pocket of cartel in the industry. And people immediately rose up to say, Mr. President, why are you saying this.

’’If it is a cartel, you crack it. Abdul Ningi I remember said it clearly that he was the most powerful President in the black world, and that is the truth. And if we are confronted by a cabal or cartel, then it is about time we dealt with the issue decisively.

’’And today, we are trying to give this reason for taking such decision that will affect the masses of our people.

’’He also tried to talk about the issue of bunkering that is also being resolved and all that. People also said okay, if you take out the subsidy what becomes of the amount of money you may eventually raise.

’’He tried to tell us that there is a committee that is headed by the Vice President (Namadi Sambo) and they are working on what will be committed from the revenue from the removal of subsidy and that they have gone 80 percent and all that.

’’For me, that is not sufficient to begin to push this idea of removal of subsidy. The strongest of the arguments is pure simplistic rationalization. Issues like the removal of subsidy must have cogent, articulate, verifiable, clear cut argument for and against.

’’You must be able to say, yes if you do this we gain this and that. Abdul Ningi tried to raise the political and security consequences of the push particularly at a time when the Arabian spring and all that… Removal of subsidy should not be left in the realms of conjecture and simplistic rationalization.’’

2012 budget not in the National Assembly ….

On the 2012 budget which was yet to be submitted to the National Assembly, Daramola said, ‘’Absolutely, it is not in the National Assembly. I think also that that meeting was preparatory to that. And I think he wants to send it in within the next two weeks.

’’If the budget comes in December at a time we are almost closing for the year, you can imagine what will happen to it. That is another recipe for failure.

’’I keep talking of the leadership of the new House of Representatives, because we are determined to ensure that we do a thorough job.

’’I am also hoping that it would pass at the House and that the Senate will concur, that a law comes into force to compel the President to present the appropriation bill, three months before the end of the year.

’’But this year we may have to deal with this budget the way it is coming. And you will not expect that parliament will be rail- roaded or ridden rough shod.

’’We will take our magnifying glasses to look at the final prints of this budget. And this might run us uptill February or March. My brother that is the scenario.’’