The presidential candidate of the Labour Party (LP), Peter Obi has described the fuel subsidy regime in Nigeria as an organized crime.
He also called on the federal government to find a solution to the challenge by encouraging private sector refining.
Obi made this submission while speaking at the Private Sector Economic Forum of Lagos Chamber of Commerce and Industry (LCCI).
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Obi stated that the government is behind the oil theft challenges plaguing the country because no one can steal fuel without the government’s active participation.
The former Anambra State Governor advised the federal government that they need an aggressive production of local refining.
Make resources available to ensure a private-sector led oil refining.
Obi further said that the cost of governance in Nigeria must be drastically reduced and wastage must be blocked.
Mr. Peter Obi stated that out of all the OPEC countries, only Nigeria was not meeting its supply quota while other countries were angling for more.
Obi declared that this was not oil bunkering but “Official stealing” not just by “ship in territorial waters”