A prominent figure and advocate in the Niger Delta region has advised President Bola Ahmed Tinubu against reinstating the petroleum subsidy that was removed during his inauguration speech on May 29, 2023.
There has been public pressure for President Tinubu to reconsider the removal of the petrol subsidy, especially due to the increased pump price of petrol leading to higher living costs and inflation impacting the economy.
During a discussion with journalists in Port Harcourt, the advocate emphasized the importance of not reversing the petrol subsidy removal. He criticized the subsidy as a means of misusing public funds that could have been used to enhance the lives of Nigerians, particularly those in the Niger Delta region facing hardships despite being the source of the nation’s oil wealth.
The advocate called for greater autonomy for Niger Delta communities in managing their oil resources and advocated for a fairer taxation system within a true federal governance structure.
He also highlighted the disparity in petrol pricing between Niger Delta residents and other Nigerians despite the oil originating from their land, emphasizing the need for equitable treatment.
Addressing the lack of significant federal projects in the Niger Delta despite oil revenue, the advocate proposed that oil refineries should directly engage with local communities to foster development and ensure fair compensation.
Furthermore, he criticized the privatization of the Nigerian National Petroleum Corporation and suggested legitimizing artisanal refining within a modular refining framework to promote transparency and community involvement in the oil industry.
In conclusion, the advocate urged President Tinubu to safeguard the interests of Niger Delta communities and recommended that traditional leaders play a more active role in overseeing oil resources and receiving fair compensation for community development.