Just in: Tinubu Urges FG To Deregulate Oil Sector, Stop Subsidy
The calls for the Federal Government to take concrete steps towards deregulating the oil and gas industry, as well as ending the controversial fuel subsidy resonated yesterday at the oil and gas conference and exhibition in Abuja.
Wale Jubril Tinubu Speaking at the conference, Managing Director of Oando Plc, Mr. Wale Tinubu urged the Federal Government to, as a matter of urgency, deregulate the oil sector, lamenting that Nigeria spent $5 billion on fuel subsidy last year, a sum he said could have been used to finance other critical infrastructure needed by vast majority of the populace.
Tinubu said stakeholders in the petroleum industry should support the deregulation to engender national growth.
Has Tinubu changed? According to him, other critical sectors of the economy like education and health, among others, were in dire need of funding.
Tinubu said there was a need to discontinue the current consumption-based government spending.
He hailed the recent appointment of Mr Mele Kyari as the new Group Managing Director of the NNPC, describing him as an astute technocrat.