Former Kaduna State Governor, Nasir El-Rufai, has made startling revelations about the continued subsidization of petrol (Premium Motor Spirit – PMS) by the Tinubu-led administration, contradicting claims of subsidy removal since May 2023. Speaking at a Capacity Building Workshop in Maiduguri, El-Rufai highlighted the staggering trillions of Naira expended on fuel subsidies, underscoring significant policy inconsistencies within the current government.
El-Rufai emphasized the importance of pragmatic leadership, stressing the need for constant evaluation and adaptation in policy implementation. While commending the initial decision to remove fuel subsidies, he pointed out the government’s backtrack due to ineffective mitigation measures, resulting in even higher subsidy costs than before.
Despite the purported removal, El-Rufai’s revelations shed light on the persisting burden of fuel subsidies on the nation’s economy. He urged a comparison between petrol and diesel prices, revealing the incongruity between their market values and highlighting the ongoing subsidization of fuel in Nigeria.
As discussions surrounding the government’s fiscal policies continue to unfold, El-Rufai’s insights serve as a stark reminder of the complexities and challenges inherent in subsidy management and economic governance. The discrepancy between official narratives and ground realities underscores the importance of transparency and accountability in policy-making, urging stakeholders to scrutinize and address systemic inefficiencies for sustainable economic development.
