Former Governor of Abia State and astute entrepreneur, Dr. Orji Kalu, has commended President Muhammadu Buhari for removing the subsidy on fuel.
Kalu declared that the subsidy was beneficial to a cabal in the oil sector and greatly disadvantageous to the majority of Nigerians.
He said: “Recall that in my congratulatory message to President Buhari when he was being sworn in, I pleaded with him to jump-start the economy by removing the subsidy on fuel as it had been abused over the years by oil barons who capitalized on it to massively enrich themselves to the detriment of the larger society.
“It is gratifying to note that President Buhari has taken the bold step of blocking this outlet that pauperizes most Nigerians while making a few others richer and richer and leaving the country’s economy in comatose.
“This is the best thing to happen to the petroleum industry since the advent of this administration.”
In a statement issued by his media advisor, Ebere Wabara, Dr. Kalu affirmed that he was sure most Nigerians comprehend the philosophy behind the subsidy removal, as they had been living with it unofficially over time.
The businessperson stated that the time had come for the country to be realistic on what it wants without pandering to the whims and caprices of a few oil magnets milking the nation dry because of their selfishness.
He said: “I plead with the Nigerian Labour Congress, the Trade Union Congress and other stakeholders to understand the essence of the subsidy removal and support it in the interest of the masses.
“Even before the removal of the subsidy, a litre of the premium motor spirit sold far above the official price and Nigerians had no choice than to buy.
“In fact, in most locations nationwide currently it has become so critical that the issue is no longer appropriate pricing, but availability.
“In other words, the latest action of government is essentially the standardization of what had become an informal price regime that gave rise to pump price disparities across the geopolitical zones.”