The Minister of State for Budget and National Planning, Clem Agba, has revealed that only wealthy Nigerians are benefitting from the fuel subsidy.
Agba said during the leadership and governor’s discussion on open government partnership in Abuja on Tuesday.
“Some will say if you take out fuel subsidies the ordinary will suffer; how will the ordinary man suffer? Is it in terms of food? Vehicles that are used for moving food are heavy-duty vehicles. They don’t use PMS; they use diesel and that has since been deregulated. Those that we are actually subsidising are the very rich.”
The minister reiterated the need to deregulate the downstream petroleum through the removal of fuel subsidy.