The state minister of petroleum, Timipre Sylva disclosed that the federal government will save at least one trillion Naira from the deregulation of oil sector.. He pointed out that the government will use the money to fix and revamp the dilapidated refineries.
He disclosed that Port Harcourt refineries are at the fore front to be fixed as the plans have already been marshalled.
He stated that the Port Harcourt project will be signed in the last quarter of 2020 and the work will begin in the first quarter of 2021. He also said the Kaduna and Warri refineries will follow suit too.
Frankly speaking with the level of rot in the country, the ravaging Corona virus pandemic and degree of indebtedness, Nigeria could not afford to be spending over a trillion Naira subsidizing petroleum product at the expense of more burning issues like healthcare, education, social investment and economy in general.
It is a sacrifice Nigerians must be ready to endure. But Nigerians could raise the alarm where the money is embezzled or diverted for other unnecessary things.
Let us sincerely look at the situation in Nigeria sector by sector. only yesterday National association of resident doctors announce the suspension of their warning strike after the federal government gave them a positive commitment by approving over 8 billion Naira to cover their hazard allowance and related plights.
Academic staff union of universities have embarked on the strike even prior to the country’s lockdown due to the Covid-19. And they are still yet to call off the strike because they believe the educational infrastructures need to be upgraded. They are also claiming earned allowances and the like.
Million of youths are still jobless and idle and expect the government to give them jobs or free grants to start businesses.
We all know the country has little resources and these issues are all burning and need urgent attention, the government can be justified to deregulate the oil sector in order to lay its hands on the money to channel them into other more burning issues in the country.
SOURCE: OperNews