Home » Peter Obi states that fuel subsidy in Nigeria is organised crime

Peter Obi states that fuel subsidy in Nigeria is organised crime

by Family Reporter
Peter Obi states that fuel subsidy in Nigeria is organsied crime

Peter Obi has these arguments for why he thinks Nigerian organised crime involves fuel subsidies.

Obi thinks that annually spending trillions of Naira on fuel subsidies is absurd.

Peter Obi, the Labour Party’s nominee for president, has reiterated his claim that the payment of fuel subsidies in Nigeria is organised crime and that it is mostly nonexistent.

Every year, the Nigerian Federal Government spends trillions of Naira on fuel subsidies to keep the cost of premium motor spirit, or gasoline, within reach of Nigerians.

Festus Keyamo, the spokesman for the APC Presidential Campaign Council, recently stated that the FG presently spends between N250 billion and N300 billion each month subsidising gasoline for Nigerians.

The Nigerian National Petroleum Company (NNPC) Limited estimates that 66 million litres of fuel are consumed daily in Nigeria.

Peter Obi states that fuel subsidy in Nigeria is organsied crime

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However, Obi thinks it is ridiculous to spend trillions of Naira on fuel subsidies every year because Nigerians do not use the same quantity of fuel as the government does.

Obi asserted that it is impossible for Nigerians to consume 66 million litres of gasoline daily when Pakistanis consume 22 million. Pakistan is an Asian nation with a population of over 230 million.

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“I have said that subsidy in Nigeria is organised crime repeatedly, by that I mean 50 percent of it does not exist and the studies approve that. We are about 220 million like I said, Pakistan is about the same size, there is no way we can be consuming about 66 million litres of fuel when Pakistan is consuming about 21 or 22 million (Litres) and we have the same population.

“They have more roads (from my own little studies) than we have. We have similar numbers of vehicles, So, what are we doing with the extra. If they are doing 22 million, how can we be doing 66 million? It’s worrisome, these are things we need to look into. If you remove this, you’ll find out that the quantity you’re dealing with is less”.

Watch the video here: https://pulsembed.eu/p2em/ZLiU-ZdvN/

Recall that in September, Obi asserted that the Federal Government is responsible for oil theft in the nation while addressing at the second in a series of Private Sector Economic Forums hosted by the Lagos Chamber of Commerce and Industry (LCCI).

He emphasised that “Payment of oil subsidy as currently practiced in Nigeria is an organised crime. We need an aggressive production of local refining”.

In contrast, Atiku Abubakar of the Peoples Democratic Party (PDP) and Bola Ahmed Tinubu of the ruling All Progressives Congress (APC) both pledged in their manifestos to phase out fuel subsidies.

President Muhammadu Buhari has already set aside N3.6 trillion to pay for fuel subsidies for the first half of next year, even though his term ends in May 2023.

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