Rufai Oseni, a well-known Nigerian television host, has asserted that the administration led by President Bola Tinubu has reintroduced fuel subsidies.
This assertion was made by the political analyst in response to President Tinubu’s commitment to preventing further increases in fuel prices.
President Tinubu had recently addressed inefficiencies in the midstream and downstream petroleum sectors, pledging to maintain current fuel prices without reversing the administration’s petroleum industry policies.
Expressing his perspective on Tinubu’s assurance, Oseni questioned the possibility of maintaining domestic fuel prices while international fuel prices rise, suggesting that this indicates a subsidy is in place.
He pondered over the contradiction of deregulating a sector while the president continues to dictate prices.
Oseni commented, “If the pump price is not increased with the international increase in the price then we are subsidizing petrol again.
If not, let market forces take over? How can you deregulate a sector and the president fixes the price? What happens to market forces? Subsidy has returned.
How can the President set the price of deregulated petrol? There seems to be no evidence to explain this. Subsidy and deregulation – too much English!”
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