A constitutional lawyer and public affairs analyst, Mr Jide Ologun has urged President Bola Tinubu, to prioritise rehabilitation of all moribund refineries in the country to rekindle hope.
Ologun gave the advice in Lagos while reacting to the Monday night presidential broadcast and ongoing agitations by labour unions.
Tinubu had affirmed during his inauguration on May 29, that his administration would not continue to pay subsidy on petroleum products, which had further resulted to the pump price increase from N184 to N568.
Tinubu, in a nationwide broadcast on Monday night, tagged: “After Darkness Comes the Glorious Dawn,” urged Nigerians to continue to bear with the decision on fuel subsidy removal and bridging the preferential exchange rate system.
Meanwhile, the organised labour unions have started nationwide protests on Wednesday, over the economic hardship occasioned by the removal of fuel subsidy.
Ologun said that revamping the refineries would go a long way to stopping importation of petroleum products, which had been enriching few people in the country.
The public affairs analyst said that revamping the nation’s refineries would further help the economy, reduce hardship and further boost the country’s foreign reserves.
Describing the president’s removal of subsidy on fuel as apt, Ologun said, “This current situation is like a hernia eating deep into human body, while medical intervention via surgical operation brings excruciating pain to the patient.”
He said that overtime, fuel subsidy had been identified as an indispensable conduit pipe and albatross to the nation’s development in infrastructure and job creation.
“So, fuel subsidy is the necessary evil that ought to have been done away with, for any government wishing to succeed and to operate well.
“Hence, fixing the local refineries will save trillions of naira from the importation of petroleum products into the country, thereby reducing the pump price of these products.”
The legal practitioner advised the president not to allow oil cabals to go scot-free so as to prevent them from devising other means of frustrating development efforts.
He asked, “Who are those behind oil theft? Who are those behind collecting money without reviving our refineries? Who are those behind smuggling of oil products?
“These are the personalities that have decided to enslave Nigerians as long as they are free out there, they will devise several other means to frustrate the government, despite its good intentions.
“Also by the elasticity concept, we should not forget that these cabals have personalities and representatives in the Ministries, Department and Agencies in the country.
“So, if the president as the commander-in-chief of the armed forces decides to deal with the cabals, then they will know that it’s not business as usual and by that, he would have set a precedent in the country.
“However, Section 15 Subsection five of the Nigerian Constitution (as amended) has given the President absolute mandate that the states shall abolish corrupt practices and abuse of power.”
Ologun lauded the president for rising up to the occasion to address the nation of the state of the economy and other challenges.
The social commentator urged the President to come up with a wise approach in managing the resources of the nation to regenerate the commonwealth for common goods.
He prayed God to grant Tinubu divine wisdom to scale through and reposition the country on the paths of progress and prosperity.
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