Dr. Samson Simon, an economist and public affairs analyst, has advised the Nigerian government against fully removing petrol subsidies. In response to Dangote Group’s Aliko Dangote’s call for complete subsidy removal, Simon highlighted the nation’s inadequate local refining capacity as a key concern.
He noted that while subsidy removal may appear beneficial on paper, past attempts have resulted in significant hardship for Nigerians without resolving the underlying issues, including ongoing subsidy costs. Simon emphasized the need for competitive domestic refining to avoid monopolistic practices, warning that reliance on a single supplier like Dangote could exacerbate problems.
He advocated for strategies to lower fuel prices while maintaining some subsidy support, emphasizing the importance of developing the domestic oil industry and ensuring competition to protect consumers.