Kachikwu backs IMF, speaks in favor of fuel subsidy removal

Kachikwu backs IMF, speaks in favor of fuel subsidy removal

The Minister of State for Petroleum Resources, Ibe Kachikwu on Monday described as logical, the call for the removal of subsidy by the International Monetary Fund (IMF).

The Minister who spoke at the second annual Oil and Gas Trainers Association of Nigeria (OGTAN) International Conference and Exhibition in Lagos said although attempt was made to remove the subsidy in 2016, he noted that President Muhammadu Buhari would be advised on what was best for the country.

“There is a lot of anti-populist against fuel subsidy removal; so any president that will take such decision will have to weigh all the factors.

“If you remember in 2016, we made efforts to remove it but things have changed since then. So I need to look into the advice, and advise the President on what is good for the country.”

Read also: Kachikwu confirms ExxonMobil, other IOCs are not leaving Nigeria

Also speaking at the event, former Head of State, Gen. Yakubu Gowon, lamented government’s failure to complete planned five export-oriented refineries, saying if his administration had been allowed to finish them, exporting crude oil for exchange of refined products would not have arisen.

Meanwhile, the President of OGTAN, Mayowa Afe lauded the passage of the recent Executive Order No 5 which he said, would encourage local skills development.

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