The Chief Executive Officer of CFG Advisory, Mr Tilewa Adebayo, has said the fuel subsidies removal has been heavily politicized amid Nigeria’s rising debt profile.He was reacting to the federal government’s claim to end fuel subsidies by May.
He stated that Nigeria’s rising debt burden would be reduced if the government gradually removed fuel subsidies. “Unfortunately, we have politicized fuel subsidies. Five to six years ago, I proposed removing 10 or 15 per cent of subsidies yearly. If we had done that in the past eight years, the subsidy burden would have been over; suddenly, we want a big bang approach to ending the problem because subsidy gulps $10-15 billion annually”, he said.
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