<<Print>>

Chairman, Senate Committee on Banking, Insurance and other financial institutions, Senator Ayoade Adeseun, has admonished the Federal Government apologists on the removal of fuel subsidy to stop comparing Nigeria with Ghana or any other country in the West African sub-continent on the fuel issue. Adeseun representing Oyo Central Senatorial district, reminded that Ghana or any other country in the sub-continent is not an Organisation of Petroleum Exporting Countries (OPEC) member. The lawmaker said: �Ghana is not an OPEC country; it doesn't produce nor export petrol, so why should Nigeria be compared with Ghana? And even when petrol subsidy was removed in Ghana, it only caused a 15 per cent increase in the pump price of the commodity? �In Nigeria, the removal of the fuel subsidy has caused over 120 per cent increase in the pump price of petrol. Also, there is constant electricity in Ghana. Nigeria has no constant power supply and that is why 32 per cent of the consumption of petrol is for electric generating plants.� He, however, advanced that rather than going ahead to remove subsidy, the government should have provided steady electricity and �stringent measures to police the system and plug the leakages.� The Senator argued: �It�s so sad that a single refinery in Venezuela, a country with a population of 28 million, Paraguayan Refinery Complex (PDVSA) refines as much as 940,000barrels per day compare to just about 133,000 barrels per day been refined by the 4 moribund Nigerian refineries with total installed capacity of 445,000 barrels per day. �No wonder the Nigerian government has increased fuel price over 10 times since 1999 while Venezuelan Government has maintained the pump price since 1999.� He said: �The Federal Government has shown that it is insensitive to the plight of the Nigerian masses by removing the said subsidy during the festive period when the people will need to travel back to their bases after spending the holidays with their various families. �This removal is not only Ill-timed; it is a downright wrong decision that has brought serious hardship on the people. And the people of Oyo Central have not elected me to be a party to policies that will make life unbearable for them.� Adeseun, however, declared his loyalty and support for the views and the resolution of the people saying "I stand by the people of Akanran, the people of Onipanu, the people of Oyo Kingdom, the people of Oluyole and all my good people of Oyo Central Senatorial District to reject this removal of fuel subsidy.�