BUHARI’S GOVERNMENT IS SUBSIDIZING FUEL? CAN THIS BE TRUE?

Words coming out from the relevant Senate Committee looking into the recent scarcity of fuel nation wide maintain that the Minister of State for Petroleum Resources claims that fuel (PMS) is being subsidized at 145 naira per liter. This is quite strange from a government that fought fuel subsidy as an opposition party.

At the time Nigerians were enjoying the price of 87 naira per liter of PMS, due to government subsidy, this government (then in opposition) came up with the theory that subsidy was an outlet for stealing public funds by political and petrol industry operators. They claimed to have withdrawn it and put the price at 145 naira per liter, with the impression given that the price adjustment would be the final bye-bye to fuel scarcity. They painted the picture that the new price would enable importers to freely import products and promote competition in the industry. They celebrated this feat widely in advance. Many embraced the forlorn hope.

Two and a half years down the line, the story has changed. Now, petrol is landing at 171 naira and that 145 naira per liter is no longer sustainable. The government has even added that NNPC has been subsidizing the cost of a liter of PMS with 26 naira due to the increase in the cost of forex. What a policy somersault.

Let me ask the government the following questions;

1. What made subsidy questionable under the previous regime that makes it correct under Buhari? Is this not the definition of hypocrisy?

2. Whose duty is it to stabilize the exchange rate and work to bring it to acceptable limits?

3. Why does the government think that the cost of fuel must become reserved for the rich only? At 145 naira, many cannot fill their petrol tanks. They buy in small quantities.

4. Does the present hardship of our countrymen and women give joy to the Buhari government?

5. What has happened to the promise of rehabilitation of existing refineries to reduce importation of petrol products?

6. What has happened to the promise of building more refineries if the government was elected vide APC?

7. Where is the congruence between words and action as promised?

It is now clear that the public has been hoodwinked into believing that that this government had the capacity to turn water into fuel and make it abundant at an affordable price. The public now knows it was a mirage. Time will tell whether the public has learnt any lesson from this or whether they would be susceptible to another round of delusive opium. In all of this, this government owes the previous regime some apology for demonizing it over a policy that they now openly operate.

Dr. West-Idahosa