, Kailani Muhammad has called on Nigerians to be more patient with President Bola Ahmed Tinubu over the removal of fuel subsidy,){kind=link}
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By Abdulwaheed Olayinka Adubi, Kaduna.
Chieftain of the All Progressives Congress (APC), Kailani Muhammad has called on Nigerians to be more patient with President Bola Ahmed Tinubu over the removal of fuel subsidy, saying that the policy aimed at improving the wellbeing of Nigerians.
He said that the N12 trillion spent on subsidy in the last 4 years is more than sufficient to develop the 2,400 hospitals of 1000 bed capacity across the 774 Local Government Areas of the country.
The APC chieftain disclosed this at the weekend while addressing journalists in his Kaduna resident.
While speaking, he explained that with the fuel subsidy removal, government can easily provide 500,000 new houses to over 3.5 million Nigerians, just as he also said that the policy will pave way for the provision of 27GW of electricity generation in the country.
According to him, “subsidy removal creates a market reflective downstream which invariably stimulates more downstream investments especially in the domestic refining space, thereby creating more jobs, prosperity and growth.”
Kilani who was the National Coordinator of the TSN, further said: ” the removal of fuel subsidy eliminates the unhealthy price arbitrage with neighboring countries, thereby preventing the diversion and smuggling of gasoline outside the Nations borders which bleeds our economy.
“It also reduces corruption surrounding internal product diversion as many marketers procure gasoline at subsidized regulated wholesale prices but still sell at deregulated retail prices.”
He however, said that with the fuel subsidy removal, it will creates an opportunity to redistribute this benefit directly to Nigerians in general.
” Another benefit of the fuel subsidy removal is that it will bring in more players, creates a more efficient market thereby reducing fuel scarcity and its adverse effects on the economy.
” Subsidy removal reduces the growing and unsustainable Budget deficit and consequently the debt burden and creating a more robust economic and sustainable future.
He therefore urged Nigerians to support the government, adding that money generated from the removal of subsidy will be used for meaningful infrastructural development programmes which will be more beneficial to Nigerians and grow the economy.