…Says fuel subsidy removal a matter of economic survival
From Felix Ikem, Nsukka
Gov. Alex Otti of Abia State has said that non-functional local refineries in the country prompted the Federal Government in engaging into fuel subsidy regime to reduce the price of imported fuel into the country.
Oti said this in Nsukka on Thursday while presenting the University of Nigeria’s 63rd Founders’ Day lecture titled “Petrol Subsidy Removal: Dealing with the Challenges, Harnessing the Opportunities.”
He said that if the country’s local refineries were funded and working in full capacity the trillions of naira spent on fuel subsidy could have been diverted into other infrastructural development.
“It’s unfortunate that we don’t have functional petrol refineries in the country which resulted in government subsidizing of imported fuel.
“The most annoying of the fuel subsidy in the country is that 97 per cent of rich people are beneficiaries because they use more petrol in their fleet cars,” he said.
The governor said also that subsidies should be on commodities that are more accessible and beneficial to the poor citizens, like kerosene and cooking gas, stressing that that was what is obtained in other developed countries.
“If money spent on subsidy is spent on other things that are beneficial to the poor it will help to reduce the poverty level as well as boost the economy of the country.
“For the past three decades the money invested in fuel subsidy has only benefited the rich as it has not impacted positively on the poor which it was meant for, and this is so because some people in the corridors of power and business had highjacked the process and diverted most of the money to their private pocket,” he said.
Gov. Otti however, noted that the removal of the fuel subsidy on May 29 by the federal government was a right decision that was overdue for the economic survival of the country.
“If the present government has not mustered the political will to remove fuel subsidy on May 29 which have made many rich people in the country richer, Nigeria’s economy could have worsened by now,” he said.
He advised the three tiers of government to as a matter of urgency put certain palliative measures in place to cushion the adverse effects of fuel subsidy removal which had resulted in the high cost of food, other goods, and services.
“Government at all levels should ensure the prompt payment of salaries to their workers and introduce a nonprofitable mass transit scheme that will help workers and other citizens to get cheap transport to their destinations,” he said.
Otti expressed appreciation to the Vice-Chancellor of UNN, Prof Charles Igwe, and the management for finding him worthy to present the prestigious university Founders’ Day Lecture.
In a remark, Prof. Elochukwu Amucheazu, the pioneer Director General of the National Orientation Agency who chaired the occasion
commended the university Vice-Chancellor for sustaining the dream and vision of the founding fathers of the institution.
He said that the founding fathers of the University left an enviable educational and infrastructural legacy which has been sustained by successive university management.
“I commend the VC and the management team for sustaining the founding fathers’ visions, and missions towards sustaining the dignity of Man which is the motto of the premier University,” he said.
Earlier in a remark, Prof. Igwe, the UNN Vice-Chancellor said that the Founders’ Day of the University of Nigeria is an annual event during which the institution commemorates and celebrates the birth of the university in October 1960.
“The founding of UNN, which was dubbed the ‘Nsukka Experiment’ was visualized and brought to life by the Nnamdi Azikiwe, the great Zik of Africa who became our first Chancellor in 1960.
“That timely vision of Zik and his fellow ‘dreamers’ paved the way for the establishment of indigenous universities in the country.
“The Founding Day Lecture is always the high point of the activities marking the week-long celebration. The lecture is intended to create a stage for serious reflection and discussion on issues of national and global interest, thus, the honour of delivering our Founders’ Day Lecture is reserved for persons of uncommon achievement.
We would usually go for persons whose achievements will serve to inspire and motivate the staff, students, and alumni of our university. There is no doubt that our 63rd Founders’ Day Lecturer, Gov. Otti, belongs to the special class of persons.”
Prof. Frank Ndili the former VC of UNN was among the dignitaries present during the occasion.