A pressure group–the Coalition of Northern Groups–has advised President Bola Tinubu to go after crude oil smugglers and hoarders. The group stated this in a communiqué issued after its meeting in Kaduna on Tuesday.
CNG expresses its support for President Tinubu’s subsidy removal, estimated to cost Nigeria about $15.6 billion annually. Speaking for the group, Abdul-Azeez Suleiman, said that the humongous subsidy could build railways from Lagos to Kano, Port-Harcourt to Maiduguri, and Lagos to Calabar, all at the same time.
He pointed out that the federal government had ostensibly spent N2.91 trillion subsidizing petrol between January and September 2022.
Suleiman added the hefty subsisdy payment had caused the country’s dwindling revenues.
“Since Tinubu’s announcement of the removal of the fuel subsidy, the cartel that has been reaping its benefits at the expense of the suffering masses, has waged a campaign about the fictitious knock-on effects that it will have on the daily lives of Nigerians,” Suleiman said.