Former governorship aspirant in Ekiti State,Engineer Kayode Ojo has hailed President Bola Ahmed Tinubu for putting an end to the fuel subsidy payment.
Commenting on the President’s action , Ojo alleged that some few priviledged Nigerians ,hitherto were feeding fat on the nation’s commonwealth in the name of fuel subsidy payment.
He therefore expressed joy that Nigeria has gotten a courageous leader who had put an end to what has been holding the country down.
While urging Nigerians to bear the temporary pains, the APC stalwart was optimistic that many investors would now invest in the Oil sector and the prices of the petroleum products would eventually come down .
On what should be done to cushioning the effect of the subsidy removal, Engineer Ojo argued that the only sustainable palliative is for Nigerians to enjoy good governance which President Tinubu had promised them.
“For me ,I think the only palliative we can have to cushion the effect of fuel subsidy removal is to have good governance which President Bola Tinubu has promised ” Ojo said .
He ,however encouraged the new administration to ensure that people have access to soft loans inorder to boast the Small & Medium Scales businesses.
According to him,the hardships associated with subsidy removal would be temporal stressing that the Nigerian economy would soon bounce back .
Engineer Ojo said ” Let the government build more infrastructure so that there will be ease of doing business in Nigeria.
“Let me say clearly that subsidy has to go .Only few people are enjoying it and those who are enjoying it today are multi billionaires while a larger percentage of the Nigerian population suffer .Now that it is removed, a lot of people would invest in the petroleum sector and the prices of the petroleum products will automatically come down.
“Ordinarily Nigerians are not suppose to feel the negative impact of the subsidy removal but because virtually everybody is a criminal in Nigeria ,people take advantage of every opportunity. You now see people jarking up the prices of commodities by almost 200 percent. This is bad .The increment in the prices shouldn’t be more than 5-10percent “
“So,the government can now allow people to have access to soft loan at very low interest rate .And by the time government build infrastructure and we can move freely ,then the economy will certainly bounce back.I dont believe in what people call palliative whereby they distribute motorcycles, grinding machines and what have you.The real palliative is to create a conducive environment for business to thrive and let the FOREX be reduced “Ojo said