Ezekwesili
Presidential
candidate of the Allied Congress Party of Nigeria, Dr. Obiageli
Ezekwesili, has said that there is a need for a ‘pressing’
reform in the oil sector.
In
a statement on Saturday, the presidential candidate demanded for an
immediate end to oil subsidy in Nigeria, saying, “It gives little
or no benefit.”
Ezekwesili
explained that ending the oil subsidy and reforming the oil
sector were parts of her plans if she emerged as the president of
Nigeria.
She
said, “End Fuel Subsidy Regime and Fully Deregulate Sector: ¬The
most pressing reform is the immediate removal of the fuel subsidy. A
subsidy that costs N1.3tn, yet provides little or no benefits to the
most vulnerable members of society, must be discontinued.
“Cancelling
the fuel subsidy allows the country to focus on the equally
important task of deregulating the entire oil sector, including the
Nigerian National Petroleum Corporation (NNPC) and ensuring that it
is subject to the competition and discipline of the open
market.
“Furthermore,
an enhanced Federal Government-led version of the Petroleum
Industry Governance Bill shall be championed by our
administration and complemented by a proposal for an amendment of
the Nigeria Extractive Industries Transparency Initiative
(NEITI Act) to achieve better governance, transparency and
accountability in the sector.
“Reforming
the oil sector for structural productivity gains is critical,
regardless of the vision of our government to move away from
resource dependency.”
She
wondered why the number one citizen of the country preferred to head
the NNPC when there are other challenges confronting the nation.
“Monies
saved from subsidies will go into the creation of a $1.5bn
Infrastructure Fund. I will be accountable to the Nigerian people
and also sign binding Service Level Agreements on performance
and accountability. I have no interest in becoming the
‘president of the NNPC’ when there are more important
national issues being for attention,” she added.
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