International Monetary Fund (IMF) came into the open yesterday on the vexed issue of fuel subsidy. The world lending body told Nigerians that the ongoing regime of subsidy would continue to hurt the economy.
It urged the Federal Government to implement the full removal of the subsidy, declaring that the decision would help fiscal adjustment for economic growth.
The advice has been stiffly resisted by a broad section of Nigerians, and had pushed the country towards the precipice in the first few days of 2012. The citizens have for long accused the lending body of being behind the serial increases in fuel prices by the country’s leaders, dating back to the military era. The IMF had, however, always operated in the background. It came into the open yesterday to canvass the view. Attempts at increasing fuel prices under any guise has drawn the ire of Nigerians, driving the polity to the edge of the precipice in January 2012. Organised Labour and some leaders have failed to shift grounds on the vexed issue, warning President Goodluck Jonathan not to dare Nigerians with any increase in the price of petroleum.
Some others, however, back the removal while yet another group premised their support for it on certain conditions that must be met by the government.
For instance, former Minister of Petroleum Resources, Prof. Tam David-West insists that claims of petroleum subsidy are nothing but fraud. Even the government investigation has confirmed that there is no subsidy.
The government has also given the public 10 different figures. The inconsistency of the government is like amoeba; the subsidy has no fixed shape. As amoeba changes shape, so does President Jonathan’s fuel subsidy change. This shows that they are not sure,”
On his part, constitutional Lawyer, Professor Itse Sagay (SAN), chided President Jonathan’s insistence on removing fuel subsidy, saying such decision was uncalled for.
His words: “I think it is totally uncalled for and in my view it is an illustration that government is not learning from experience. I am sure the presidency has forgotten what happened in 2012 when he abruptly removed the subsidy. He seems to have forgotten. I don’t see why the head of the government will deliberately make up a crisis when there is none because that is what he is trying to do.”
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