Shehu Sani Opposes Return of Fuel Subsidy in Nigeria

Shehu Sani, speaking at a press conference in Abuja, expressed strong opposition to the return of a fuel subsidy in Nigeria, arguing that it previously cost the country between N3 trillion and N4 trillion and contributed to corruption and fuel smuggling. He emphasized that rather than reinstating the subsidy, political leaders should focus on revamping Nigeria's refineries to enable local crude oil refinement.

Sani criticized the current practice of exporting crude oil while importing refined products, which he deemed economically unsustainable for an oil-producing nation. He acknowledged the hardships faced by Nigerians due to the removal of the subsidy but insisted that reverting to the old system would not alleviate commodity prices and would distort economic stability.

Sani called for a "human face" in ongoing economic reforms and suggested that political leaders should share the burden of these reforms. He cited the Dangote Refinery as an example of the potential benefits of local refining and questioned the rationale behind continued imports of refined petroleum products.