The Kaduna State governor, Nasir El-Rufai, and his Anambra State counterpart, Chukwuma Soludo, have urged the federal government to end fuel subsidies.
The governors said this on Tuesday during a panel session at the policy conversation on “How Nigeria Can Build a Post-Oil Economic Future” in Abuja.
Gov. El Rufai recalled chairing a committee that worked out a framework for the management of resources post-subsidy removal.
The committee recommended investments in security, social protection, infrastructure, health, and education.
“We worked with experts and World Bank and came out with a report on what to do with the resources which would be transparently explained to Nigerians,” he said.
“In 2021 the federal government‘s budget for roads was N200 billion and in 2021 we were projecting to spend N1.2 trillion on subsidy, and we saw the danger and I called for its removal.
“We have a framework and the economic council agreed for it to be withdrawn because we had a clear plan on where the money should go which includes federal, state, and local government for interventions.”
In addition to pushing for subsidy removal, Gov. Soludo called for transformational leadership and said the incoming government has a chance for a fresh start.
“It has to start by getting the team assembled and getting to work immediately with institutional reforms and a competitive system.”
Former Central Bank of Nigeria governor, Sanusi Lamido Sanusi, who spoke at the event also said it was time to remove the subsidy paid on petrol importation.
