Home Politics Fuel crisis: “Proffer suggestions, not condemnation” – former AD Chairman

Fuel crisis: “Proffer suggestions, not condemnation” – former AD Chairman

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Abuja –  Alliance for Democracy (AD) former chairman, Mr Rafiu Salau, says the fuel crisis in the country calls for inputs on ways to overcome it, not condemnation of the government and its institutions.
Salau told the News Agency of Nigeria (NAN) on Wednesday in Abuja, that Nigerian leaders should see solving the current fuel supply problem as a collective responsibility and proffer solution.
“The current economic position of the nation should be seen as a collective responsibility to save the nation from the situation created by the past government.
“Since the President wants to bring change that will ensure the development of the economy, every leader who believes in the change should contribute by giving advice to help the government.
“This period is not for criticism or condemnation but for suggestions that can be considered by the government to yield good results that will place the nation as the role model in Africa.’’
He advised the Minister of State for Petroleum to put the nation’s human resources to work since the refineries had the capacity to sustain local consumption.
“Second, the solution is to give the refineries to the people.
“All the refineries should be under an organization that will be taken to the stock market where every Nigerian can invest in the industry by purchasing shares of the refineries.
“The moment the IPO is issued, I believe that over 80 per cent of Nigerians will invest in the industry and buy shares’’, he said.
Enumerating the economic benefits of privatizing the refineries, Salau said that people would be involved in the economic activities, investing in the economy and expanding the stock market.
“Nigerians will be able to increase their source of personal income from the annual dividends from the profit of the company and the new system will create job opportunities.
“On the part of the government, there will be no more subsidies with government revenue, and monies for the usual subsidy will be available for economic development.
“The management cost of the refineries in the past years without refining petroleum products will stop and be used for economic development.
“Also, the government will generate revenue from the new industry with taxation, because the new workers will pay personal income tax, and the company will pay corporate tax from the gross profit. (NAN)

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