CACOL Opposes Fuel Subsidy Removal

The Coalition Against Corrupt Leaders, CACOL, has kicked against the planned removal of fuel subsidy by the Federal Government, saying that while it will enrich a few people, it will pauperise most Nigerians

At a press conference on Friday, CACOL Chairman, Comrade Debo Adeniran, said the multiplier effects of the removal of the subsidy will lead to inflation.

“Some have estimated that it will lead to the loss of 250,000 jobs within two years as the high costs of fuelling generating sets will make the cost of goods prohibitive,” Adeniran said without naming his source.

He added, “We insist that the Federal Government must reject the deregulation and removal of oil subsidy as we support the creation of a Sovereign Trust Wealth Fund.

CACOL also noted that the Economic and Financial Crimes Commission, EFCC, has not been decisive on anti-corruption drive.

“While we appreciate the fact that the Presidency responded to the people’s demand that it should act on the Oronsaye Panel, we are disturbed that the characters who perpetrated these heinous crimes are still walking the streets free,” Adeniran said.

He demanded that the indicted sacked officials of NDDC must be prosecuted and a new board reconstituted.

—Simon Ateba