By Ononye VC
Human rights lawyer Femi Falana has criticized the Nigerian government’s decision to remove petrol subsidies, attributing it to pressure from the World Bank and International Monetary Fund (IMF).
While speaking on Channels Television, Falana argued that no country has completely abolished subsidies, citing examples of developed nations like the US, UK, and France, which subsidize key sectors such as electricity and agriculture to protect their citizens.
Falana emphasized that the removal of petrol subsidies was not a domestic policy choice but a condition imposed by international financial institutions.
He stated that the IMF and World Bank insisted that the Nigerian government eliminate all subsidies, which has worsened economic hardship for millions of citizens.
Falana stressed that even leading Western countries subsidize various aspects of their citizens’ lives, making Nigeria’s complete subsidy removal unrealistic.
Falana also expressed concerns about a planned 5% fuel surcharge, urging the government to remit funds owed to the Federal Roads Maintenance Agency (FERMA) instead of imposing new taxes.
He cited Section 14 of the FERMA Act 2007, which established a 5% user charge on fuel sales, but was never implemented.
Falana revealed that between 2007 and 2011, FERMA confirmed no funds were remitted despite deductions from petrol prices at source by regulators.
He warned that introducing a fresh surcharge could amount to multiple taxation, burdening already strained consumers.
Falana called for an end to dollarization, emphasizing that rejecting the Nigerian currency, the naira, is a criminal offense. He also suggested that Nigeria consider joining BRICS to reduce dependence on Western financial institutions.
