Arise TV’s Rufai Oseni explains why Tinubu’s petrol discount is fue subsidy [VIDEO]

Arise TV presenter Rufai Oseni has spoken out against the Federal Government's recent decision to discount petrol prices, arguing that it is nothing more than a new form of fuel subsidy. The Federal Government announced on October 8 that petrol prices would be discounted for a 30-day period at filling stations across Nigeria. However, opposition figures have criticized this move, alleging that it is a subtle reintroduction of the fuel subsidy that was removed on May 27, 2023.

In a video posted on his official X handle, Oseni dismissed claims that the petrol discount was not a subsidy. He stated, "I've been seeing a lot of ignorance being spread. Don't let them deceive you. What the government did was a return of fuel subsidy." Oseni explained that foregoing profits on a product for a specific purpose is a form of subsidy. He argued, "With their lies of NNPC discount, it is still a subsidy. Whenever you forfeit your profit, you have subsidised the product as an incentive."

Oseni further elaborated on the concept of subsidies, stating that they can be employed in various ways to gain market advantage. He said, "You can put subsidies in many ways to gain market advantage. If you are producing something, you can decide to subsidise the price to be able to get market advantage." Additionally, Oseni mentioned another production subsidy that was proposed in the government's press conference, which involved selling the cap price of crude oil to refiners for a limited period of time.