Civil society coalition flays fuel subsidy as capitalist policy

Tunde Opalana, Abuja

A Coalition of Civil Society Organisations in Nigeria, comprising 82 different groups, and operated under the aegis of “Civil Society Coalition for Economic Development (CED) has thrown its weight behind fuel subsidy removal.

This condemnation was part of resolutions reached by CED after a conference, titled: ‘Fuel Subsidy Removal’ in Nigeria held simultaneously in Abuja and Lagos.

The conference unanimously concluded that Nigeria was the only country in the world that sustained fuel subsidy regime for the past 20 years.

The CED declared that the fuel subsidy regime was a capitalist and elitist policy that services only the top-heavy, hence, successive governments found it difficult to implement their economic policies

A 7-point communique signed by Com. Yusuf Dan Maitama, Convener and Com. Badaru Ayewoh, Secretary of the Civil Society Coalition for Economic Development (CED) was made available to the media Friday night.

The communique read ” That the Federal Government of Nigeria should end fuel subsidy regime effect from 1st January, 2022 in order the save the sum of N250 billion monthly as the economy of Nigeria has become very fragile given the financial burden orchestrated by the subsidy regime.

“That Nigeria is a monolithic economy as such, revenue earnings must be jealously guarded and which should be channeled into road construction, power, education, health and development of its youth.

“That the organised labour should be considerate and not to embark on strike action in the circumstance that the Federal government has ended fuel subsidy regime, given the reversal of huge resources back into the Federal government coffers.

“That the Federal government and all stakeholders in the oil and gas industry should strictly enforce the provisions of Petroleum Industry Act (PIA), which came into effect after it was signed into law by President Muhammadu Buhari.

“That the Federal government, private and public sectors should embark on sensitisation of Nigerians on the need for immediate removal of fuel subsidy in order to save the nation from further financial hemorrhage.

“The federal government of Nigeria should forward the budgetary provision of N5000 grant to citizens to cushion the effect of fuel subsidy removal to the two arms of the National Assembly for legislative debate before the passage of 2022 budget.

“The Civil Society Coalition commends the Group Managing Director of Nigeria National Petroleum Corporation (NNPC) Limited for his commitment to the stability of oil and gas industry in Nigeria”