Situation on petrol subsidy requires transparency from FG- Bode George

Chief Bode George, a prominent figure in the Peoples Democratic Party (PDP), has called for greater transparency and accountability in the oil and gas sector. He urged the Federal Government to be forthright with Nigerians about the status of fuel subsidies.

The former Deputy National Chairman of the PDP criticized the Federal Government’s inconsistent stance on removing the subsidy for premium motor spirit (PMS), commonly known as petrol, which has caused confusion among Nigerians. He stressed that citizens deserve clarity on the issue.

There is ongoing speculation and debate about whether the Federal Government has actually removed the subsidy on PMS, as announced by President Bola Tinubu in May 2023. On June 5, 2024, Atiku Abubakar, the PDP’s 2023 presidential candidate, claimed on X.com that the Federal Government was still covertly subsidizing fuel.

Addressing the matter at his office in Ikoyi, Lagos State, on Thursday, Chief Bode George reaffirmed the need for Nigerians to be informed about the true state of fuel subsidies and the oil and gas sector.

The Federal Government needs to be transparent. One day, we’re told there’s a subsidy, and the next day, it’s gone—Nigerians deserve the truth.

“This constant back-and-forth is confusing. Where is the transparency? Who can we trust?” George questioned.

He also criticised the Federal Government’s decision to sell crude oil to Dangote’s refinery in naira, calling it disastrous for the country’s already volatile economy.

He said, “This decision to sell crude in naira is a ticking time bomb. Crude oil is our major income generator, bringing in foreign currency that bolsters our external reserves.”

“But now, our reserves are already depleted, and this policy could be the final nail in the coffin.”