By Olusegun Obisanya
The Pastor in the headquarters of The Redeemed Christian Church of God (RCCG), The Throne of Grace, Adebayo Adeyemo has enjoined Nigerians to be patient with the government of President Bola Ahmed Tinubu to enjoy the gains of the removal of fuel subsidy.
According to Adeyemo, not a few professional bodies, economic and financial experts have backed the removal of petroleum subsidy, which is gravely affecting the scarce revenue of the country and government ability to deliver dividends of democracy to its citizenry.
Adebayo, who addressed the media at Ebute-Metta, Lagos, said that if the subsidy was removed about ten or five years ago, the pump price of N488.00 per liter would not have been so high and Nigerians would have been benefitting from the gains of the removal of the subsidy.
He pointed Nigerians to the fact that tens of trillions of naira that had gone on oil subsidy since 2016 was not actually in the interest of the citizens, going by the fact that if the difference between N185 liter before and the current price of N488 had been ploughed back into the economy, Nigeria would not be in the position she has found herself today.
“It was announced that with the removal of oil subsidy, the exchange rate will be regulated and the interest rate would come down which would begin to draw investors into the country.
“It is worthy of note that immediately the removal of oil subsidy was announced, the second day, stock exchange increased and Zenith bank made over N13 million that same day because their share went up,” he said.
He, therefore called on Nigerians to be patient and wait for the gains of the removal of oil subsidy.
Adeyemo, however blamed the country for lack of maintenance culture because, according to him, if the four refineries in the country had been maintained, Nigeria’s story today would have been different.
He disclosed that in the Western world, there is always provision for maintenance of their facilities in their annual budget which is not being done in Nigeria.
The cleric enjoined governments to wage a successful war against corruption in the country in order to Nigeria forward.