Arise TV’s Rufai Oseni explains why Tinubu’s petrol discount is fue subsidy [VIDEO] 

Television Presenter Criticizes Government’s Petrol Price Discount as Subliminal Subsidy

Rufai Oseni, a presenter for Arise News Television, has voiced concerns over the Federal Government’s recent petrol price discount, suggesting it effectively reinstates a form of fuel subsidy.

On October 8, the Federal Government announced a 30-day discount on petrol prices at Nigerian National Petroleum Company Limited (NNPCL) filling stations across the country. This move has drawn criticism from opposition leaders who allege that the administration of President Bola Tinubu is quietly reintroducing the subsidy that was abolished on May 27, 2023.

In a video shared on his official social media account on Saturday, Oseni argued that the government’s decision to forego profits on petrol constitutes a subsidy. He claimed that any profit forfeiture by a seller essentially serves as an incentive and can be regarded as a subsidy, regardless of the amount involved.

“I’ve been seeing a lot of ignorance being spread. Don’t let them deceive you. What the government did was a return of fuel subsidy,” Oseni stated in the video.

He continued, “With their claims of an NNPC discount, it is still a subsidy. Whenever you forfeit your profit, you have subsidized the product as an incentive. Even if it is N10, as long as it is a forfeit of your profit, it’s a form of subsidy.”

Oseni further elaborated on the various methods of subsidizing products for market advantage, asserting that they can take different forms. Additionally, he mentioned a proposed production subsidy discussed in the same press conference that would allow refiners to purchase crude oil at a capped price for a specified period.

For more details, see the full video on his official social media account.

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