Tunde Sholanke
The Federal government needs to remove fuel subsidy to free the nation’s economy from woes and add value to the lives of Nigerians,the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN),has said.
President of the union,Comrade Festus Osifo, gave the suggestion at the National Executive Council (NEC) meeting of the association which held in Abuja on Tuesday.
He implored the government to invest the subsidy fund into areas that would impact more number of Nigerians such as addressing the incessant Academic Staff Union of Universities (ASUU) strikes, healthcare and infrastructural developments among others.
The downstream sector of the economy would grow much more and the move would also shore up the nation’s foreign exchange reserve and Nigerians and government will earn more money if the country ends fuel subsidy.
He emphasized that part of the reason cost of living has gone up drastically is because the exchange rate has jumped from 100 or 100 Naira plus, to over 800 Naira to a dollar, adding almost all money Nigeria ought to have earned as a country is being used to buy Premium Motor Spirit (PMS) popularly known as petrol.
According to him, PENGASSAN has always maintained the position that there are some basic things that government must do, among which is bringing back the refineries to work.
“We are encouraging government today, if you remove subsidy where are you to put the money. Removing subsidy can number one solve Academic Staff Union of Universities (ASUU) problem permanently, so that ASUU will not go on strike again.PENGASSAN empathizes with Nigerians on the hardship currently faced with the scarcity and drastic hike in the price of PMS across the country.
“The national leadership of PENGASSAN has been following up with our members in NNPC Trading Limited who are responsible for assigning the products to marketers and our teaming members from NMDPRA in various depots and terminals across the country that are responsible for issuing cargo clearance, tracking compliance, route inspection, metering calibration/maintenance, accurate delivery to trucks, record keeping, etc. on the need to carry out their functions expeditiously.
“We have called on the management of NMDPRA to compel all marketers and retailers to make the products available at approved prices. They should immediately mobilize all their staff in various locations across the country to track compliance, and anyone found wanting, should have their license immediately revoked. We will keep close tab on this.
“Our Association re-states the commitments to continue its advocacy on the need to fix the Nation’s refineries and with the inclusion of PENGASSAN in the Steering Committee as set up by Nigerian National Petroleum Corporation (NNPC), it shall continue the agitation for the rehabilitation of the four Refineries through engagement with other relevant stakeholders.
“Functional local refineries will not only increase the nation’s revenue base, they will also provide more job opportunities for our youths as well as end the uncertainties in subsidy regimes and product importation. While maintaining our support for the full deregulation of the sector and acknowledging the significant milestones achieved in this regard, we counsel that efforts be made to increase the pace of the current refineries rehabilitation and get them back on stream in no time” he stated.
