Employers' Association supports subsidy removal, urges rehabilitation of refineries

The Nigeria Employers’ Consultative Association (NECA) says it supports President Ahmed Bola Tinubu’s removal of fuel subsidy.

The Director-General of NECA, Mr Adewale-Smatt Oyerinde, made this known in a statement in Lagos on Tuesday.

Oyerinde, however, urged the Federal Government to urgently fix the nation’s four refineries in the wake of the fuel subsidy removal which has triggered an unprecedented hike in prices of petrol and transportation fares.

The NECA director-general urged the President Tinubu-led government to make future-oriented policies in ackling the current petrol crisis in the country.

He said most interventions capable of being undertaken in the face of the current crisis, would take a medium or long term period to msterialise.

”So it is better to look into the future while planning. We need programmes and policies that will bring permanent or long term solutions,” he said.

He also said that steps should be taken to stimulate manufacturing and industrial production in order to develop local economies.

”We reaffirm our call for the total removal of fuel subsidy, it will promote enterprise sustainability, growth, and competitiveness.

”Subsidy removal will trigger huge financial revenue which can be channelled into infrastructure development among others,” he said.

He urged the Federal Government to carry out massive education and awareness creation on the essence and benefits of petrol subsidy removal.

According to him, Nigerians need to know that the policy is the interest of their wellbeing and the economy.