The National Chairman of the All Progressive Congress (APC), Chief John Odigie-Oyegun, on Tuesday, said that the eventual removal of fuel subsidy is inevitable.
According to him, the gradual removal of subsidy was necessary in view of emerging and current realities.
Odigie-Oyegun made the disclosure when he received a delegation of the APC National Coalition for Peace and Mobilisation (NACOPEAM) on a courtesy visit to him at the party’s National Secretariat in Abuja.
He said the current administration inherited an ‘infected system of subsidy’ run by corrupt cartels, stressing that “in one way or the other, subsidy must go.”
He said a situation where government spends almost a trillion naira yearly on the corruption-tainted subsidy regime is unacceptable and can no longer be sustained.
He added that the oil cartels and their cronies resisting change had continued to blackmail and sabotage government on the issue of subsidy, a development that has resulted in the lingering fuel scarcity despite serious government efforts.
He described the fuel scarcity the country is currently facing as a ‘national disgrace.’
Odigie-Oyegun said there was the need to restructure the country’s oil and gas sector which has been marred by corruption and inefficiencies.
He said President Muhammadu Buhari’s directive to the Petroleum Products Pricing Regulatory Agency (PPPRA) to adjust its pricing template to reflect competitive and market driven components might not necessarily result in increase in the pump price of petrol.
The APC National Chairman said the presidential directive to the PPPRA will result in a more efficient and realistic pricing system for petroleum products and also result in constant availability of fuel.