Oseni Rufai, Arise TV host, has listed seven steps the Bola Tinubu-led government should have taken before removing petrol subsidy.
Rufai noted that the steps would have cushioned the effect on Nigerians, who are now reeling from the impact of the new policy.
He said before the government adopted the policy, they should have done the following:
1) Fixed refinery and ensured they got the 445kbpd DCA
2) Develop a proper energy mix and anchor on gas.
3) Fix power
4) Improve productivity in our economy.
5) Improve FX revenue inflow to the government
6) Tackle crude oil theft.
7) Provide palliatives
Rufai also urged the Tinubu administration to audit the Nigerian National Petroleum Company (NNPC).
”Why is the government scared to audit the subsidy regime of the NNPC? That should be the first step. Also, they should get a private investigator to investigate the NNPC like they are doing with the Central Bank of Nigeria!”
Rufai also called on the NNPC to be more transparent in its dealings.
”Dear NNPC, Kindly let us know how you calculate petrol prices in Nigeria, stating inspection cost, landing from Amsterdam or Rotterdam to Togo or to Nigeria, then state other cost components that make up the final price, factor in FX fluctuations. Thank you.”