Stakeholder Tackles Sanusi, el-Rufai for Calling for Subsidy Removal

Adedayo Akinwale in Abuja

Chairman of Skymark Energy and Power Ltd, Muhammad Saleh Hassan has berated comments by former Emir of Kano, Muhammad Sanusi II, and the  Governor of Kaduna state, Nasir el-Rufai for canvassing for removal of fuel subsidy.

Both Sanusi and el-Rufai had called for the removal of subsidy at the 7th edition of the Kaduna Economic and Investment Summit held on Tuesday in Kaduna.

But reacting in a statement issued Thursday, 

Hassan pointed out that removal of subsidy would trigger more economic hardship for the common man. 

He recalled that since the subsidy on diesel was removed,  increased prices of all commodities and  inflation had been the order of the day as a litre of diesel  now goes for N850.

Hassan said: “Removal of oil subsidy is a critical issue. There is need to weigh it well and ensure a balance before taking a decision on it. The pros and cons need to be looked at critically before a decision has to be made. It is not something to rush. It should be gradual to make it result-oriented for the growth and economic development that we all desire and deserve,” Hassan stressed.

 “This is not the time economic experts, especially the class of Sanusi and el-Rufai should be talking about subsidy removal because of the rising inflation and hardship. They should put its effects on the common man in consideration.  It is a time to think of how the common man is surviving amid the hardship. 

“This is exactly what Mele Kyari is working towards. Through his consistent efforts, NNPC has completed its transition and transformed as a complete limited liability company with impressive shares at the Dangote Refinery, the largest refinery in the world which is nearing completion.

“Apparently, Nigeria will soon exit fuel subsidy also because Nigeria National Petroleum Corporation Ltd (NNPCL) proactive measures in investing in local refining to boost domestic consumption will end importation, stabilise forex and strengthen our naira.  It would also boost our GDP and provide employment opportunities.”

Hassan allayed fears that with the giant strides being taken by the Group Chief Executive Officer (GCEO) of NNPCL, Malam Mele Kyari, in reforming the oil sector as well as  the passing of the Petroleum Industry Act (PIA) by President Muhammadu Buhari and its consistent implementation in actualizing the reformation, there was no cause for such an alarm.

“Kyari’s is a go-getter any day. His poise to unravel oil theft in Nigeria, especially in the Niger Delta, which is already yielding positive result, as well as other transformative measures he has embarked upon, is highly commendable.”