Abia State Governor, Dr Alex Otti, has backed the removal of fuel subsidy, saying those advocating its return do not mean well for Nigeria.
Otti made the statement during an interview with ARISE News monitored by The News Chronicle on Friday, while discussing the economic implications of subsidy removal and his longstanding opposition to subsidising fuel consumption.
The governor said government support should be channelled towards production rather than consumption.
“I don’t have a problem supporting production, but consumption should not be subsidised,” Otti said.
He recalled that he had supported the removal of fuel subsidy as far back as 2020, when the COVID-19 pandemic caused a sharp decline in global demand for crude oil.
According to him, the situation at the time presented an opportunity for Nigeria to end the subsidy regime.
Otti also argued that subsidising fuel consumption encouraged wasteful use because consumers did not bear the full cost of the product.
“You know, as election approaches, people will be making all sorts of arguments, but removing the subsidy was the right thing to be done.
“And I don’t think anybody who is praying that subsidy returns means well for the country,” he said.
The governor described the former subsidy regime as susceptible to abuse, referring to it as a “scam”.
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He explained that consumers were less likely to limit their fuel consumption when part of the cost was borne by the government.
“So if you are being subsidised, you can just blast all vehicles, maybe 20 vehicles, you put all of them on the road because somebody is paying for it,” he said.
Otti, however, acknowledged that subsidy removal would initially impose hardship on Nigerians, but maintained that the policy was necessary.
“There will be the pain initially,” he said.
