Remove confusion over rerurn of fuel subsidy, Falana tells Tinubu

A human rights lawyer, Femi Falana, has urged the administration of President Bola Tinubu to stop playing politics with the fuel subsidy.

In a statement on Sunday, Mr Falana quoted Robert Dickerman, chief executive officer of Pinnacle Oil, who recently claimed that the Federal Government still pays N1 trillion every month for petrol subsidy.

Falana, who spoke against this backdrop, said rather than deceiving Nigerians to continue to endure the hardship caused by the removal of subsidies on petrol, Tinubu should come out clean on the touchy issue bothering on the nation’s economy.

According to him, Nigerian National Petroleum Corporation Limited, NNPCL, has not responded to several claims of return to subsidy payments by the International Monetary Fund, the IMF, and the World Bank.

He said, “During his inauguration on May 29, 2003, President Bola Tinubu announced the end of fuel subsidies and total deregulation of petroleum products.

“But at the recently concluded Nigeria International Energy Summit,NIES, held in Abuja, the Chief Executive Officer and Managing Director of Pinnacle Oil and Gas Limited, Mr. Robert Dickerman, revealed that the Nigerian Government still pays N1 trillion every month for petrol subsidy.

“Mr Dickerman, who made the disclosure while participating in a panel discussion, disclosed that a significant subsidy is still in place, adding that this has contributed to the affordable price of the product and potentially fueling smuggling activities to neighbouring countries.

“On its own part, the World Bank has alleged partial return of fuel subsidy in a report presented in Abuja last December.

“In justifying its claim then, the World Bank said that based on the official exchange rate then, the petrol should sell for around N750 per litre and not the N650 currently being paid by Nigerians.

“Curiously, the Nigerian National Petroleum Corporation Limited has not deemed it fit to deny the serious allegation that fuel subsidy has been restored.

“Since there is no provision for fuel subsidy in the 2023 and 2024 Appropriation Acts, the federal government should, without any further delay, confirm or deny the serious allegation and end the opacity surrounding the importation of fuel from foreign countries.”