A Review of the Nigerian Energy Industry

Pro-Buhari group seeks fuel subsidy removal

16 June 2015, Ibadan – The South-West Discourse of the Buhari Volunteers Network has said that the removal of fuel subsidy will end massive financial waste and allow millions of jobs to be created for Nigerian youths.

President Muhammadu-Buhari

The group, which held an interactive session in Ibadan on Monday, said in a communiqué released at the end of the meeting and signed by the Coordinator in the South-West zone, Mr. Ismaeel Odulana, that after examining the recent fuel crisis, it was compelled to hold the meeting with the view to coming up with a lasting solution to the problem.

The communique read in part, “Subsidy in Nigeria is a means of enriching a few against the interest of the general masses and one of the major conduit of corruption within the Nigerian system. If subsidy is removed today, the masses will go through some unfriendly times, but in the long run, it will be the better for it.

“We are ready to lead the campaign and encourage Nigerians to be prepared to sacrifice in the short time in order to gain in the long run and prepare the future for the generations after us.”

The group also agreed that since there was continuous fluctuation in the price of crude oil and Nigeria was making efforts to reduce its dependence on oil, there was a more realistic need to deepen the economy through diversification leveraged on the natural potential of the country.

It added, “Oil subsidy is not in existence and consequently has had and will not have any positive effect on the lives of the masses. As a consequence, the Buhari Volunteers Network implores the President to remove the subsidy immediately.

“We are also calling for transparency in the sector, especially in the sale of crude and distribution of the various products locally. Nigeria must take a critical look at the business of procurement of the various products with a view to uncovering the whereabouts of the other by-products of crude that have not been accounted for in the whole business.”


– Punch

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