By Ononye VC
The co-chairman of the National Coalition Front,Professor Pat Utomi has taken a swipe on the President Ahmed Bola Tinubu led federal government over it’s decision to adopt a total removal of subsidy on petrol.
In a national television interview,Prof Utomi said removal of subsidy in all sectors of the economy will not serve any meaningful purpose in ameliorating the sufferings of the people of Nigeria.
According Prof Utomi,if the Nigerian nation must survive,the power sector must be subsidised because it powers production.
Power he pointed out,is so basic in production as it would stimulate production adding that the removal of subsidy without putting certain things into consideration has ended up in punishing the people.
Professor Utomi fired at the political class saying,”The political class should learn to work for the people and stop punishing them unnecessarily.People across the globe think Nigeria is a fraud.We have to have a new orientation”,he said.
He further pointed out the need for the federal government to quickly provide funds for setting up of modular refineries to engender competition and reduce the cost of petroleum products.
Utomi who is a professor of Economics called on Nigerian authorities to subsidize technology on production and conversion of cars to CNG as is done by the Bangladesh government.
On hike in electricity tariff,Prof Utomi pointed out that there was no justification for increase in Electricity tariff.He accused the DISCOs of incompetence and expressed wish that they were disbanded because of lack of capacity.