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Subsidy: PENGASSAN urges govt to lead by example

The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Comrade Festus Osifo, has advised the government to put measures in place for the removal of petroleum subsidy to be meaningful.

At the PENGASSAN Energy and Labour Summit 2022 held in Abuja on Tuesday, Comrade Osifo acknowledged that payment of subsidy for petrol is no longer sustainable.

“It is clearly not sustainable for us to be spending close to 7 trillion in the payment of subsidy. We quite know from the information available to us that the financial situation of this country is in dire straits. We know as well that the amount of money we are using in servicing debt is even getting higher than our revenue, so it shows clearly that we are in dire straits but our leaders must lead by example.

“Today, if you check the budget that was passed, there is what is called Service Wide Vote. The Service Wide Vote today is going to three trillion naira. The accounting system of Service Wide Vote is questionable, we live in profligacy. Today, go to several states and see what our governors are doing.

“They cannot tell us that we are passing through austerity; they cannot tell us that they need our help but they are still living, as usual, we must cut our coats according to our size. We have challenged and told them, why can’t you come out and lead by example and say okay, I am going to cut down on ABC and E and actually you go ahead and do it?, he noted.

Comrade Osifo urged the government to approach the issue with sincerity for the benefit of all Nigerians.

Writing by Annabel Nwachukwu