Babajide Soyode, the former General Manager of Corporate Planning and Business Development at the Nigerian National Petroleum Corporation (NNPC), has urged the Federal Government to halt the fuel subsidy payment regime in order to end the product’s persistent scarcity.
Soyode made this revelation on Tuesday during an AriveTV interview
He blasted Nigeria’s exorbitant diesel prices in comparison to neighboring countries such as Ghana.
According to him, Nigerians pay the highest diesel prices in Africa.
“We spend subsidies to maintain the elite of this country; that is all we are doing. Even the elites no longer get it, but some people are taking it to squander in Dubai. I am saying, remove subsidy today heavens will not come down.
“All these things they are talking about are not true; diesel in Ghana is N549; do they have subsidies for diesel? Why are they paying N549, and we are paying N786? We are importing the product from the same market. I am not blaming IPMAN or NNPC if the government has screwed up the market by maintaining subsidies. You can quote me; the fuel scarcity situation will continue after December”, he stated.
Nigerians are still grappling with the consequences, as fuel queues have resurfaced in Abuja, Lagos, Cross River, Akwa Ibom, and other major cities.