The Chief Executive Officer of CFG Advisory, Mr Tilewa Adebayo, has said the fuel subsidies removal has been heavily politicized amid Nigeria’s rising debt profile.
Adebayo disclosed this on Wednesday in an Arise Television interview monitored by DAILY POST.
He was reacting to the federal government’s claim to end fuel subsidies by May.
According to him, five years ago, he had proposed a gradual removal of fuel subsidies instead of the proposed approach being brandished by the government.
He stated that Nigeria’s rising debt burden would be reduced if the government gradually removed fuel subsidies.
Adebayo disclosed that although the federal government had improved its non-oil revenue generation capacity but should make more investments to expand.
“Unfortunately, we have politicized fuel subsidies. Five to six years ago, I proposed removing 10 or 15 per cent of subsidies yearly. If we had done that in the past eight years, the subsidy burden would have been over;…
