Situation on petrol subsidy confusing

A chieftain of the Peoples Democratic Party, Chief Bode George, has called for transparency and accountability in the oil and gas sector, urging the Federal Government to be honest with Nigerians regarding the payment of fuel subsidies.

The former Deputy National Chairman of the PDP said the ” back-and-forth” position of the Federal government on the removal of subsidy on premium motor spirit, popularly called petrol has thrown Nigerians into confusion, saying citizens of the country deserve to know the truth.

According Online reports that ongoing speculations and debates continue regarding whether the Federal government removed the subsidy on PMS as announced by President Bola Tinubu in May 2023.

On Wednesday, June 5, 2024, Atiku Abubakar, the 2023 presidential candidate of the PDP, asserted in a post on X.com that the Federal Government was still covertly paying for the subsidy.

Speaking in a similar vein at his office in Ikoyi, Lagos State, on Thursday, the former PDP Deputy National Chairman emphasised that Nigerians had the right to know the true state of affairs in the sector.

“The Federal Government needs to be transparent. One day, we’re told there’s a subsidy, and the next day, it’s gone—Nigerians deserve the truth.

“This constant back-and-forth is confusing. Where is the transparency? Who can we trust?” George questioned.

He also criticised the Federal Government’s decision to sell crude oil to Dangote’s refinery in naira, calling it disastrous for the country’s already volatile economy.

He said, “This decision to sell crude in naira is a ticking time bomb. Crude oil is our major income generator, bringing in foreign currency that bolsters our external reserves.”

“But now, our reserves are already depleted, and this policy could be the final nail in the coffin.”