The Social Democratic Party, SDP, presidential candidate, Adewole Adebayo, says Nigeria has been getting fuel subsidy wrong.
Adebayo made this statement on Tuesday while responding to questions in an interview on Channels Television’s Politics Today.
He was reacting to the removal of fuel subsidy by President Bola Tinubu since his assumption of office on May 29, 2023.
According to him, removing fuel subsidy without controlling the actual supply is ineffective, noting that a subsidy is merely a financial mechanism rather than a physical resource.
“When I said don’t remove the subsidy, he was arguing with me that it must be removed and he will sell NNPC. Where will the subsidy come from now?
“Subsidy is an account in government. Subsidy is not petrol. Subsidy will fail anytime you have no control over the supply. What we are saying is that we are going to guarantee supply,” he said.