We’ve been getting fuel subsidy wrong – SDP’s Adebayo
Social Democratic Party Candidate Critiques Nigeria’s Fuel Subsidy Removal
Adewole Adebayo, the presidential candidate for the Social Democratic Party (SDP), expressed his concerns regarding Nigeria’s management of fuel subsidies. His remarks came during an interview on Channels Television’s “Politics Today” on Tuesday.
Adebayo’s comments followed President Bola Tinubu’s recent decision to eliminate the fuel subsidy, a move enacted since Tinubu took office on May 29, 2023. Adebayo contended that the removal of the subsidy without simultaneous measures to control fuel supply would be ineffective.
“A subsidy is merely a financial mechanism, not a physical resource,” Adebayo stated. He emphasized that the government must focus on ensuring a stable supply of fuel.
“When I advised against removing the subsidy, the argument was that it had to be done and that NNPC would be sold. Without a strategy for supply, where will the subsidy come from now?” he questioned.
Adebayo insisted that a lack of control over fuel supply would ultimately undermine the subsidy program. His remarks highlight ongoing debates about Nigeria’s energy policies and their implications for the economy.
