Abia State Governor, Alex Otti, has defended the removal of petrol subsidy by the administration, arguing that it promotes inefficiency and corruption rather than production. In an interview on ARISE News Channel, Otti stated that subsidizing consumption encourages waste and creates opportunities for abuse. He emphasized that government resources should be channeled towards supporting production and creating systems that enable businesses to operate efficiently.
Otti revealed that he has consistently supported the removal of petrol subsidy, citing his writings on the matter, including an article published in THISDAY in 2020 during the COVID-19 pandemic. At that time, he argued that it was a good opportunity to remove the subsidy since oil prices were low. Otti maintained that subsidizing consumption rather than production only encourages laziness and sometimes corruption.
The governor warned that attempts to restore petrol subsidy would not be in the best interest of Nigeria. He emphasized that the initial hardship associated with the policy would eventually lead to greater efficiency with consistency and proper management. Otti stated that those pushing for the return of subsidy do not mean well for the country.
Otti also spoke on the issue of electricity, stating that businesses do not necessarily require subsidies if the government can guarantee a reliable power supply. He argued that once constant power supply is ensured, businesses will be willing to pay for it. This, he believes, is a more effective way to support businesses rather than providing subsidies.
As a member of the Labour Party, Otti clarified his support for President Bola Tinubu while acknowledging the President's right to seek re-election. He stated that he has a presidential candidate and it is expected that he supports his party's presidential candidate. However, Otti emphasized that he is not in a position to oppose Tinubu's candidacy, citing the need for internal conflict resolution within the government.
Otti also addressed the issue of Nigeria's neglect of its libraries, warning that it weakens the nation's institutional memory. He stressed the need for stronger investment in the preservation and digitization of the country's intellectual heritage. The governor emphasized that this is crucial for the development of the nation.
Finally, Otti provided an update on his administration's management of Abia's finances, revealing that the state has committed at least 80 percent of its annual budget to capital expenditure. This, he believes, demonstrates his commitment to the development of the state.
Key points
- Otti defends petrol subsidy removal, citing inefficiency and corruption.
- Otti warns against attempts to restore petrol subsidy.
- Otti emphasizes the need for investment in Nigeria's libraries.
