An expert in Development Economy and Finance, Tunde Olatunji advised that Federal Government should not remove fuel subsidy.
Olatunji recalled that International Monetary Fund (IMF) suggested that Nigeria should remove Fuel Subsidy by so doing, the country would be able to move funds into improving health, education, and infrastructure.
The expert said the removal of fuel subsidy would jeopardise the economy, adding that an attempt to remove the fuel subsidy without any other arrangement in place, will be like ‘solving one problem by creating another’, and there is need to develop our local capacity for refining our products.
However, he said that subsidy is economic tool and the abuse of it is what becomes a criminal offence.
(NAN)