Fuel Price Increase Painful , But Necessary- Lagos Lawmaker | Independent Newspapers Limited
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Fuel Price Increase Painful , But Necessary- Lagos Lawmaker

Posted: May 13, 2016 at 3:30 am   /   by   /   comments (0)

Temidayo Akinsuyi,

Lagos-   Honourable Olusegun  Olulade,  lawmaker representing  Epe Constituency II in  the  Lagos  State  House of Assembly on  Thursday described as painful the increase in petrol pump price from N86 to N145. He however said that is the only way to go if Nigeria must move forward.

While assuring Nigerians that they stand to benefit a lot from the decision,  Olulade, the Chairman, House Committee on Health said events in Nigeria has clearly shown that there is no alternative to the deregulation of the downstream sector.

“I will say that it is a painful decision, but it is the way forward.  It is quite unfortunate that the level of decadence that is on ground has strongly affected the economic policies of this current administration. Without doubt, the way forward is to deregulate”.

“The talk about deregulation did not start with this administration; it just has to come at this time.  We need to move away from the era of subsidy and allow people to import the products so as to create a competitive market where people can easily import their products and sell.  I think we might have to just go through this route for us to save this country” .

When asked why Nigerians protested when former president Goodluck Jonathan took the decision four years ago,  Olulade said  the mere fact that the then administration effected the price change on New Year’s  Day incurred the wrath of Nigerians who believed that they will begin the year with untold hardship. He also added that the monumental corruption in the administration added to the nationwide protest that crippled the nation for days.

“The former president increased the fuel price when everybody knew corruption was deep-rooted in his government.  And with that increment, he was simply telling us that Nigerians will continue to suffer.  But with President Buhari, we have seen a new sheriff in town. Here is a president who is committed and passionate about moving Nigeria out of the woods”.

“ I also think the former president worsened the situation by carrying out the increase on January 1st, the first day of the year (New Year’s Day) when people are in a joyous mood. It is very wrong for a government to inflict such pain on the people on that particular period” .

“But now, everybody is already aware and are talking about it, saying let’s remove subsidy and divert the money into some other profitable ventures such as education, healthcare sector or road construction.  Under this administration, Nigerians know that if they pay their tax, their money will be used judiciously.  All these were not so under the Jonathan administration. He might have a very good policy but when you are operating a very corrupt system,  it will become an issue” he said.