A financial advisor and educator, Kalu Aja, has said that the removal of the petrol subsidy would remain a strategic mistake if the savings are not directed toward critical sectors such as infrastructure, healthcare and human services.
Aja made the remark in a post on the social media platform X
on Tuesday while reacting to concerns over mounting pressure on federal
finances and rising debt servicing costs.
According to him, the decision to remove the subsidy would
only make sense if the proceeds were transparently invested in projects that
directly benefit citizens.
He alleged that the funds saved from the removal of the
Premium Motor Spirit, PMS, subsidy were not being used for such purposes.
Aja accused government officials of using public resources
to sustain what he described as a “fake lifestyle.”
He wrote: “The removal of the PMS subsidy remains a
strategic mistake if the proceeds did not go to infrastructure, health and
human services
“They removed the PMS subsidy to fund the fake lifestyle
they enjoy in government.
“They are using the government to subsidise their fake
lifestyle.”
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