The Centre for Anti-Corruption and Open Leadership, CACOL, has congratulated the incoming President of the Federal Republic of Nigeria, President Bola Ahmed Tinubu who was sworn in as the 16th President of the country. The Anti-Corruption organization however cautioned the President over his recent decision to stop fuel subsidy regime in the country.
In a release issued by CACOL’s Chairman, Mr. Debo Adeniran and signed by the anti-corruption organization’s Director of Administration and Programmes, Tola Oresanwo, he stated, “We do not agree with Mr. President that fuel subsidy can no longer justify its ever-increasing costs in the wake of drying resources rather we want to align ourselves with the school of thought that believes that subsidy should not be removed from fuel, it doesn’t matter who uses fuel. Those buying Luxury items like expensive cars/vehicles should be made to pay more at the point of registering their cars and renewing their vehicle papers based on the cost and the age of the vehicle. These sets of people are the ones using petroleum products more. Same policy should apply to those using expensive or high capacity generators who should be made to also register them with the government. All the luxury goods should attract higher taxes and rates, these will generate the needed income that can serve as alternative to the subsidy the president is trying to remove.“