TheCable

Hamzat Lawal, activist and chief executive officer of Connected Development (CODE), says petrol subsidy is only enjoyed by the rich.

Speaking on Hard Copy, a Channels Television programme, on Saturday, Lawal said the continued payment of petrol subsidy by the Nigerian government is unacceptable.

“We are subsidising the rich, not the poor. The poor are actually bearing the brunt. And we spend over N50 billion every day in subsidising the rich people who can actually afford it,” he said.

Last month, the Muhammadu Buhari administration announced plans to secure a World Bank loan to be distributed to about 50 million vulnerable Nigerians or 10 million households as part of its petrol subsidy palliatives measures.

The move sparked outrage nationwide, given the high debt profile of the country.

Lawal urged the national assembly to call for a public hearing concerning the loan, noting that it will help ensure that all the grey areas concerned are addressed.

“Taking a loan is not bad, but what do we do with this loan? People are poor. We have poor people, and it is not their doing that they are poor. And as a government, as people, we must care for these poor people,” he said.

Lawal also advised that the government can explore the Open Government Partnership platform to ensure transparency in its spending.