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President Bola Tinubu has been praised as the only president "bold enough" to eliminate the petroleum subsidy regime by the senator-elect for the Ogun East District, Gbenga Daniel.
This was stated in an interview with Arise TV on Thursday by the former governor of Ogun State.
Daniel expressed his thoughts on Tinubu's announcement to end gasoline subsidies, saying that the practice had grown unsustainable and that "everyone" was aware of this.
Additionally, he emphasized that the subsidy is available to all residents of Nigeria because petroleum is also illegally transported from Nigeria to other neighboring West African nations.
The thing I want our people to understand, according to Daniel, is that everyone has realized the subsidy was not tenable. But no one was brave enough, not even the departing president, who merely stated that it would be abandoned after he had left.
"And someone has said, 'Let's quit fooling ourselves. The major issue with the subsidy is that we are subsidizing West Africa as a whole, not just Nigerians, as I have also observed, but which few people have mentioned.
"And I do not see how that is even remotely sustainable. If there is no way to ensure it stays on Nigerian soil, which is also a part of the smuggling issue, then it is obvious that we must stop.
"And I don't see how that is even possible to sustain. We cannot continue to subsidize the entire West African subregion if there is no way to ensure that it stays on Nigerian soil, which is also a problem with smuggling. Such capacity is not available to us, Daniel emphasized.
Remember that premium motor spirit prices soared after the president said that gasoline subsidies were no longer available at his inauguration on May 29. Some petrol stations began charging as much as N700, and the NNPC changed its official rates to reflect the new situation.
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