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Petrol subsidy in Nigeria is simply the rich maintaining their lifestyles – Sowore

Published

4 years ago

February 6, 2023

The presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has challenged the continuous claim of petrol subsidy in Nigeria and the perennial scarcity of the product with ever rising price of PMS pump price per litre. Sowore stated that “subsidy on petrol in Nigeria is simply the rich maintaining their lifestyles”.

He asserted that the victims of the lifestyle of the rich, are the poor and vulnerable masses, noting that “the process is mired in corruption and fraud”.

Sowore speaking on Channels Television, slammed the Nigerian National Petroleum Company Limited (NNPCL), disputing the claim that Nigeria is consuming 60 million litres of petrol daily upon which the federal government bases petrol subsidy payment.

The African Action Congress (AAC) presidential candidate cited the Nigerian Customs Service which disputed the claim that Nigeria consumes 60 million litres of petrol daily. He emphasised that the need to enhance the capacity of refineries in Nigeria to process crude in the country and reduce importation of refined petroleum products so as to eliminate subsidy.

Sowore had declared: “The Customs said openly that Nigeria is not consuming 60 million litres of fuel on a daily basis. So, where does the Nigerian National Petroleum Company Limited (NNPCL) get it from?

“With regards to subsidy, there is no subsidy in Nigeria. What is happening is the rich subsidising their lifestyles through corruption.

“The second aspect is to make the refineries at homework. We have four refineries that should be working. Even if those refineries don’t produce entirely anything we can consume, the only thing we can import is just a few litres to augment whatever is needed.

“That has been established that we are not importing as much as they are claiming. “You say it is a bad idea for the government to be doing business but the government that hates business can invest $2.8 billion in a private refinery in Lagos that is coming on stream very soon.”