‘Why I Fought The Former President Obasanjo When He Wanted To Remove Fuel Subsidy’ – Oshiomhole

Former Nigeria Labour Congress President and APC Senator-Elect for Edo North Senatorial District, Comrade Adams Oshiomhole was one of the key players who fought against the removal of fuel subsidy during his administration of former President Olusegun Obasanjo.

 Comrade Oshiomhole has revealed why he was initially against the removal of fuel subsidy. He alleged that the economic situation back then enables the government to be able to manage the subsidy. He identified that it’s a different case now with the economic crisis inherited by the Bola Tinubu administration.

He said, ”Those who know me very well will know the fact that I provided leadership in ensuring that Government did not withdraw subsidy. And this is Why I fought former President Olusegun Obasanjo when he wanted to remove fuel subsidy.

It is because the micro economic environment was totally different. And the numbers were ranging between 40 billion and 20 billion per year. And it’s representing mot more than 5 to 10 percent of the total annual budget.

Now, you are talking of the situation where the Federal Government’s commitment to servicing debts is already more than its total revenue. And so even to pay normal wages, Federal Government has to resort to borrowing.”

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