This Day (Lagos)

Nigeria: Fuel Subsidy Is a Fraud, Says A'ibom Speaker

The Speaker of the Akwa Ibom State House of Assembly, Hon. Sam Ikon, Monday described the introduction of the fuel subsidy as a fraud, urging Nigerians and the media in particular to condemn and fight against it.

The Speaker who made the remark at a media interaction session, said nobody should doubt the scheme is a fraud as it is only being enjoyed by a cabal not the larger society.

The lawmaker who had been in the oil business before now, insisted that those who introduced the said oil subsidy programme did so on political interest and to hold on to power, rather than helping the down trodden.

He lamented that in Nigeria today, it is easier for somebody to build refineries outside the country and supply the petroleum products to Nigeria that has the crude oil.

Ikon regretted that when the Federal Government attempted to stop the fuel subsidy, the action attracted a lot of criticism even among the labour movement who much have been ignorant of the fraud in the subsidy scheme.

"The true is that we must collectively fight it. Only few people are benefiting from it. So we must fight this monster that is eating deep into the economy.

"How can refinery operate successfully in a country like Niger Republic, but is not working in Nigeria. For every positive step you take in Nigeria what you get back is attack or criticism.

"If you refurbish Kaduna refinery now, before you know, there will be fire in it. The subsidy thing is very sad. This country is in trouble. The media must really do something and carry out in-depth analysis on it," he insisted.

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