Former Group General Manager of National Petroleum Investment Management Services ( NAPIMS), Mr Dafe Sejebor, has lauded the Federal Government and Nigeria National Petroleum Corporation (NNPC), for the removal of subsidy on fuel.
The former NAPIMS boss, who described the move as the best interest of the country, also called on the labour unions to reconsider their planned protest.
Sejebor further urged Nigerians to show more understanding and thoroughly review the reason behind the Federal Government’s decision to stop the subsidization on the petroleum product before taking to the streets.
It will be recalled that the Petroleum Products Pricing Regulatory Agency (PPRA) had earlier disclosed that the Federal Government had spent N8.94tn on petrol subsidy between 2006 and 2015.
The PPPRA had explained that in 2006, 2007, 2008, 2009 and 2010, the government spent N257.36bn, N271.51bn, N630.57bn, N469.31bn and N667.08bn respectively.
The regulatory body had added that in 2011, 2012, 2013, 2014 and 2015, the government also paid N2.104tn, N1.354tn, N1.315tn, N1.217tn and N653.51bn respectively on petrol subsidy.
In a statement on Thursday, Mr Sejebor disclosed that the over N8.94tn spent on petrol subsidy could have been used to build more critical infrastructures, improve the economy, support the private sector as well as create jobs.
Sejebor, who was recently discharged and acquitted by a US Court on alleged human trafficking, also appealed to the Nigeria Labour Congress to reconsider its planned protest slated for September 28.
According to him, the money spent on subsidy benefits only a few individuals to the detriment of the economy and the majority of Nigerians.
He added that such money could be ploughed back on projects that’ll make life better for ordinary citizens.
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