Connect with us


Gov Soludo urges Nigerian govt to discontinue payment of fuel subsidies



Prof. Chukwuma Soludo, the governor of Anambra State, has spoken out against the continuation of payment for fuel subsidies in Nigeria.

Soludo, who spoke at the World Bank group’s Nigeria Development Update, NDU, launch in Abuja on Tuesday, said the remedies to Nigeria’s challenges were simple and not far-fetched.

In the first five months of 2022, the Nigerian National Petroleum Corporation (NNPC) Limited, stated that payments for petrol subsidies cost the Federation Account N1.217 trillion.

However, according to Soludo, gasoline subsidies should be paid by the federal government rather than by the states.

He further said that the subsidy should have been eliminated ‘like yesterday,’ and that its failure to do so could result in the Central Bank of Nigeria (CBN) spilling money.

Read also: Soludo justifies dismissal of 1,000 teachers, as protests rock administration

The Governor said, “Federal government decides that it wants to subsidise Premium Motor Spirit, PMS, why do you have to charge it from the subnational states? You should charge it from the revenue of the federal government.

“We need to have this conversation, the politics, and structure of the government and so on. We cannot do the same thing over and over again and expect the same result; it’s not going to happen. We’ve had this analysis for a decade, the same analysis and conclusions of what to do.

“Remove this subsidy like yesterday, this ought to have been removed like yesterday. If we continue with the subsidy, Central Bank will continue to spill money. The solutions are pretty obvious. What we need to do is to be committed to it.”

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now