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‘Removal of fuel subsidy will check corruption’

Enugu – A group, Southern Nigeria People’s Mandate, on Saturday praised the Federal Government for removing subsidy on petrol, saying the move would help check corruption.

The President of the group, Mr Augustine Chukwudum, made the group’s position known in an interview in Enugu.

He said Nigerians needed to know that the subsidy removal would help improve the present economic situation.

“We want to tell Nigerians that this laudable move by the Federal Government would check the age-long massive and unchecked corruption in the petroleum sector.

“It will also open-up the petrol downstream sector to competitiveness and gradually market-forces will push down fuel price below N100 per litre very soon.

“Let us tell ourselves the truth. Before now, most localities in the country – with the exception of the capital cities of Lagos and Abuja – get the product for or above N120 per litre,’’ Chukwudum said.

He, however, urged the government to recover the public funds that were stolen through over-bloated petroleum subsidy payments in the past years.

He called on the Federal Government to offer refining licenses to as many eligible Nigerians as possible and to encourage the building of modular refineries.

“I sincerely believe that the current liberalisation would in no distant time be a huge blessing to Nigerians especially those living in the hinterland.

“These set of Nigerians had not benefited from government subsidised petroleum products for over two decades,’’ Chukwudum added.

The News Agency of Nigeria (NAN) recalls that the Federal Government on Wednesday announced a that the new pump price of petrol, which should not be above N145 per litre.

Federal Government had said that henceforth, any Nigerian was free to import fuel under due monitoring.

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