PETROL SUBSIDY IS A SCAM

An investigation in Yenagoa, Bayelsa State, has revealed that fuel sells for between N180 and N250 per litre depending on the area. I can also confirm that the benchmark price is always at N190 despite the subsidy and the rate nationally pegged at N165. Only the NNPC station in Yenagoa sells petrol for N165 per litre. The attention of the Minister of State for Petroleum has been drawn to it and he declared it an illegality; despite this, petrol is still selling for N190. Industry watchers say this is an indication that the subsidy is failing as various measures put in place to stop sharp practices have not yielded any result.

This is why I keep making the argument that subsidy is not needed. It is obvious that oil marketers just sell petrol and sell at ridiculous rates at the expense of the people. It is sad that Nigeria will pay N4 trillion to subsidise petrol. Just imagine if that money was ploughed into education, I am sure ASUU will not be on strike. I am tired of mismanagement of resources in the name of subsidies. It is time to stop the madness.

Rufai Oseni, rufaioseni@gmail.com