Why I supported Tinubu’s policy on fuel subsidy – Lawmaker

Niger East Senator, Sani Musa, said he supported the removal of fuel subsidies that has increased the rate of hardship in the country because it would eliminate corruption among political elites.

Mr Musa, chairperson of the Senate Committee on Finance, said this in a statement on Monday.

President Bola Tinubu announced the removal of fuel subsidies during his inauguration on 29 May 2023.

The removal of the petrol subsidy and the floating of the naira policy have specifically led Nigeria to witness the worst cost-of-living crisis in decades, as prices of goods and services have doubled across the country.

Thousands of Nigerians have protested against the policies and demanded immediate reversal, but the government repeatedly defended the policies, saying they will yield fruit later.

PREMIUM TIMES had exclusively reported that the federal government pays an average of N501.47 as subsidy on each litre of petrol, in at least eight cities. The subsidy payment is replicated across the remaining states of the federation.

But the government continuously denies it.

Best decision

Mr Sani admitted that hardship is increasing in the country but that removing the fuel subsidy was the best decision in the country’s interest.

He said certain powerful individuals were benefiting from the payment of subsidies, which ought to have been used to develop the country’s infrastructure.

He noted that removing the subsidy would eliminate corruption in the system.

“When I said removing subsidy is the best thing that happened to Nigeria, my assertion was not intended to overlook or diminish the economic challenges faced by Nigerians. Rather, it was a statement grounded in the reality that, for years, subsidy payments have lined the pockets of a few powerful individuals at the expense of the nation.

“Hundreds of billions of naira that should have been channelled into vital infrastructure, education, and healthcare ended up benefiting a few privileged, depriving over 230 million Nigerians of necessary resources and opportunities.

“The removal of the subsidy is a step towards eliminating systemic corruption and redirecting resources to where they are truly needed,” he said.

Measures to mitigate effect

Mr Sani also said that the government should increase social welfare programs and address security issues to cushion the effect of the subsidy removal on Nigerians.

“However, I agree that it must be accompanied by strong measures to mitigate the impact on everyday Nigerians. This includes strategic investments in social welfare programs, improvements in security, and support for economic growth at all levels, and that has been my focus.

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“I am deeply aware of the pressing issues of insecurity affecting even my senatorial district and other parts of the country for many years.

“I have not and will not remain silent on these matters, and I am committed to amplifying our voices and pushing for comprehensive strategies that address safety, economic empowerment, and equitable development,” the lawmaker said.