14th February 2024
Ahuman rights activist, and Senior Advocate of Nigeria (SAN), Femi Falana, recently addressed the removal of fuel subsidy by the Tinubu administration, expressing concerns about its nationwide implications.
In a video shared on YouTube by Sahara TV, Falana made reference to the era of the late military Head of State, General Sani Abacha.
He said: Despite Abacha’s controversial leadership, Falana noted that a system known as the Petroleum Trust Fund (PTF) was established to manage funds derived from the removal of fuel subsidy, with the aim of addressing critical infrastructure needs in the country.
Falana highlighted the contrast between the approach taken during Abacha’s era and the current situation, expressing apprehension about the lack of a similar mechanism under the current administration.
He recalled that during Abacha’s tenure, the gains from fuel subsidy removal were retained and utilized to tackle infrastructural challenges plaguing the nation. However, Falana expressed concern that the current administration has not outlined a clear plan for utilizing the funds generated from the removal of subsidy.
According to Falana, the public was initially informed that the funds from the subsidy removal would be directed towards addressing pressing issues such as unemployment, insecurity, and food crises. However, he emphasized the importance of holding the government accountable and demanding transparency in the utilization of these funds to ensure they are effectively allocated for the betterment of the country. He urged the public to remain vigilant and proactive in ensuring that the promised benefits from the subsidy removal are realized and contribute to addressing the country’s socioeconomic challenges.
Hear him: “When we had a situation like this under Abacha, as bad as he was, he set up PTF. The gains of fuel subsidy then were kept and used to address the infrastructural crisis in the country. So this time around we are demanding for our rights because what they told us is that subsidy is gone and the gains of subsidy will be used to address problems of employment, insecurity, food crisis, and so on”.
