Tinubu’s Subsidy Removal is a Scam: 3 Reasons PDP’s Pearse is Saying This

In a recent appearance on Channels Television’s Sunrise Daily, Dr. Adetokunbo Pearse, a prominent figure from the People’s Democratic Party (PDP), shared his skepticism regarding Tinubu’s Subsidy Removal plan. His remarks ignited discussions about the potential repercussions of this move and its implications for the nation’s economy. 

Dr. Pearse’s insights revealed some critical analysis of the connection between the subsidy removal, the NNPCL’s operations, and the overall pricing dynamics in the fuel sector which clearly depicts that the subsidy removal is a scam. As his perspective adds a significant dimension to the discourse surrounding this contentious issue, let’s take a look at his thoughts that are worthy of note.

Nigerians deserve to know the landing cost of petrol

Dr. Pearse argued that Nigerians are eager to know the truth behind the actual landing cost of Premium Motor Spirit (PMS), commonly known as petrol. He emphasized that Nigerians deserve transparency in this matter and further stressed the importance of revealing the landing cost figures to the public. 

According to Pearse, he said knowledge is essential for understanding how much profit can be made and setting prices that won’t harm the economy. Pearse’s call resonates with the collective desire of Nigerians to have access to accurate information about fuel costs, ensuring informed decisions and safeguarding the nation’s financial well-being.

Transparent review of NNPCL’s role in determining the cost

Dr. Pearse demanded attention to the transparent assessment of the Nigerian National Petroleum Company Limited’s (NNPCL) role in shaping fuel costs. He sees this as a viable alternative to the potentially detrimental complete subsidy removal proposed by President Tinubu. Dr. Pearse emphasized that there is a pressing need to delve into the operations of the NNPCL, particularly the activities overseen by the body’s Managing Director Mele Kyari. 

The concerns would be in addressing corruption and inefficiencies within the industry, which Dr. Pearse identifies as a key factor influencing the fluctuations in landing costs. Calling on the President to initiate this transparent inquiry into the NNPCL, Dr. Pearse’s stance highlights the potential for tackling wastage, inefficiency, and corruption within the industry. Such measures, he asserts, could contribute significantly to reducing the burden of expensive petrol pump prices, thus fostering a more sustainable economic environment.

Questioning Tinubu’s economic leadership and business experience

Dr. Pearse’s expressed his disappointment in Tinubu’s handling of the subsidy situation which underscores this skepticism. He described the president as a mere bookkeeper and possessing the business prowess required to navigate complex economic decisions. 

He said “Democracy is a job in progress, the president doesn’t know everything. Frankly, I am very disappointed in Tinubu, very disappointed. I thought he understood economics. Now, I have realized he is just a bookkeeper. A bookkeeper is an accountant – he collects money and counts it but to develop a business, to develop an economy takes a business mind.”

Dr. Pearse emphasizes the importance of hands-on experience in running industries, which provides valuable insights into the give-and-take of business interactions. His remarks indicate a lack of confidence in President Tinubu’s grasp of these essential elements.