Federal Government Continues Petrol Subsidy in Trillions of Naira, Says el-Rufai

Former Kaduna State Governor, Nasiru el-Rufai, asserted yesterday that the Federal Government has been subsidizing petrol, also known as Premium Motor Spirit (PMS), in trillions of naira since its inception. He emphasized that without these subsidy payments, the price of petrol per liter would be significantly higher, surpassing even the current prices of diesel, which range between N600 and N750 per liter depending on the location.

Speaking at a workshop in Maiduguri, where he delivered a lead paper on policy implementation and human resource management, el-Rufai highlighted the immense financial burden of the petrol subsidy on the federal government. He estimated that the subsidy has cost the government about N8 trillion since May 29th, 2023.

El-Rufai emphasized the importance of effective leadership, stating that leaders must demonstrate decisiveness, trustworthiness, and clear communication skills. He also stressed the need for humility in admitting when policies are not working and making necessary adjustments. Despite supporting the removal of fuel subsidies, el-Rufai noted that the current administration has reinstated the subsidy due to its ineffectiveness in mitigating the impact of rising fuel prices.

The former governor pointed out that while the government initially removed fuel subsidies as a good policy, it has had to backtrack due to inadequate support packages to alleviate the impact of high fuel prices. El-Rufai urged people to compare petrol and diesel prices to understand the presence of fuel subsidies, as petrol should logically be more expensive than diesel under normal circumstances