The suspension of the fuel subsidies removal in June by President Muhammadu Buhari’s administration is not surprising, according to the former president of the Trade Union Congress (TUC), Peter Esele.
Esele made the statement during an interview on Channels Television on Friday, following the National Economic Council’s announcement that the proposed fuel subsidy removal had been suspended, News About Nigeria gathered.
The removal of the subsidy was expected to save Nigeria over N6 trillion in revenue.
However, Esele, a former president of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), suggested that the Buhari administration lacked the political will to achieve it.
He claimed that the administration would have removed the fuel subsidy one year into its government if it wanted the fuel subsidy regime phased out.
In his words;
“I think this government, if they wanted to remove fuel subsidies, would have done it in the first year of their administration when they had huge political capital to expend, but since it was not done, what they have been doing over the years is kicking the can down the room”.
Industry data suggests that Buhari’s administration would have spent close to N10 trillion on fuel subsidies, from May 2015 to May 29, 2023.
The former TUC president’s comments highlight the issue of fuel subsidies in Nigeria, which have been a controversial topic for years.
The country has been grappling with the issue of rising fuel prices, which has been a major concern for citizens and policymakers alike.
The removal of fuel subsidies is expected to have significant implications for the country’s economy and its citizens
