FG wants to remove subsidy to increase big oil firms’ profits–SPN
The Socialist Party of Nigeria, SPN, has rejected the planned fuel price hike by the Buhari-led federal government.
The group made its position known yesterday in a press statement titled, “SPN Rejects Planned Hike in Fuel Price and Electricity Tariff’.
The statement, signed by SPN’s Acting National Chairman, Abiodun Bamigboye, and National Secretary, Chinedu Bosah, called on Labour to begin mass mobilization to defeat all neo-liberal attacks, by government.
According to the party, the fuel price increment will inevitably increase the cost of living and further worsen the living conditions of the vast majority.
“Most Nigerians earn poverty wage or low incomes while the N30,000 minimum wage, when paid, has been largely eroded by inflation and the ever-rising cost of living,” it said.
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The SPN Acting National Chairman and National Secretary, pointed out that the real motivation for subsidy removal however is the desire to increase the profit of big oil companies and conniving members of the bourgeois ruling elite and limiting state expenditure no matter what effect that has on the majority of Nigerians.
“While we do not deny the fact that there is massive corruption associated with fuel subsidy, what cannot also be glossed over is the fact that had there not been subsidy over the past two decades, perhaps the price of fuel products would have gone up to nearly N1000 per litre considering the volatility of crude oil price in the world market over the years.
“For us, therefore, the best way to tackle the massive corruption associated with is by a crash public works programme to make existing public refineries function at an optimal level and also build new ones in order to end importation, and put them all under democratic control of the working people,” they said.
