Subsidy is back, so much hypocrisy in Nigeria – Rufai Oseni

Arise Television host Rufai Oseni has called out the Nigerian government for hypocrisy over its decision to introduce a 30-day petrol discount at NNPCL filling stations. Oseni argued that the discount is essentially a return of fuel subsidy, despite Finance Minister Taiwo Oyedele's claim that it wasn't a subsidy. The broadcaster made these remarks on Friday during The Morning Show, an Arise Television program.

Oseni questioned why the government, which previously opposed fuel subsidies, would introduce the discount just 30 days before the 2027 general election, especially with preparations for it underway. He praised former Vice President Atiku Abubakar for bringing the issue of high petrol prices to the forefront of public debate. Atiku had argued in a September 18 speech that President Bola Tinubu could rename the intervention and take credit for it, as long as it reduced the burden on Nigerians.

Oseni noted that the government had failed to introduce sufficient relief measures despite global crude oil prices rising since March 8. He said the petrol discount showed the government could intervene to ease citizens' financial burden, contrary to its earlier stance. Oseni accused the government of hypocrisy, pointing out that officials had previously defended their position against subsidies, only to introduce one when it suited their political interests.

He questioned who would bear the cost of the lost profits from the discount, emphasizing that in basic economics, a company's profit is used to invest in its business.