Why we must end the subsidy regime – Prince Nixon Okwara.
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Why we must end the subsidy regime – Prince Nixon Okwara.
By Naomisophysblog
Prince Nixon Okwara, CEO of Onix properties has said the removal of fuel subsidy is a reduction of a financial burden on the government lean purse. According to the century-old book of facts, there are seven measures to cure lean purse :
I. Start thy purse to fattening. In other words, save. …
II. Control thy expenditures. …
III. Make thy gold multiply. …
IV. Guard thy treasures against loss. …
V. Make of thy dwelling a profitable investment. …
VI. Ensure a future income. …
VII. Increase thy ability to earn.
In clear and simple terms, the subsidy regime must give way to a robust economy. There is no need to romance it.
Talking about corruption and mismanagement- Do we really need a soothsayer to tell us that we are losing serious revenue to a criminal cabal that will stop at nothing to protect their illegal and criminal earnings?
More also it recedes to distorted market dynamics – Am sure we all know that the fuel subsidies regime created market distortions over the years in Nigeria, including fuel smuggling across the Nigerian borders, artificial scarcity, pricing inconsistencies, and policy unrest. So fuel subsidy is our common enemy, is either we end it or it ends us. The choice is ours.
Economic efficiency- Let me simplify it, our refineries will never work, and new ones can never be built unless we remove the subsidy. Guess what? Our economic value chain and employment are also hindered. Imagine the number of jobs that will be created if we have about 6 Dangote refineries in Nigeria.
What Nigerians should do is:
Keep aside political differences and unite against the real enemies of Nigerians, the beneficiaries of the fuel subsidy.
When NLC calls for social unrest ask them who funds them, and how the leadership gets richer than some state’s Governors at the of their tenures in office. We must ask NUPENG and PENGASON who they are striking for. Tell them, that, we, Nigerians are united against fuel subsidy removal, we want to suffer it once and for all.
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Let’s hope for a double increase in the budget for education, health, and infrastructure.
A new Nigeria is possible under President BAT.
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