The PBAT Mandate Elders Forum has backed the Federal Government’s fuel subsidy reform, warning that any attempt to restore the subsidy could undermine infrastructure development and slow economic reforms in Ondo State and across Nigeria.
The group said the removal of the subsidy had increased government revenue and created room for funding critical projects, particularly infrastructure development.
The Chairman of the forum, Chief Demola Ijabiyi, stated this on Wednesday at the group’s quarterly meeting in Akure, the Ondo State capital, where he reviewed the impact of the Federal Government’s economic policies and called for sustained support for the reforms.
He said reversing the subsidy policy would lead to a shortage of funds for development projects, particularly major road construction linking Ondo State with neighbouring states.
“Bring back the subsidy and there will be a paucity of funds. Many of these projects will suffer, and we do not want that,” he said.
He also claimed that the removal of the subsidy had improved petrol distribution, noting that long queues at filling stations, black-market activities and disruptions linked to fuel shortages had reduced.
On petrol price fluctuations, Ijabiyi said they were largely influenced by changes in the international crude oil market and geopolitical developments affecting global supply routes.
“The price of crude oil has an international dimension that is beyond Nigeria’s control. Global events determine the direction of prices,” he said.
The APC chieftain further alleged that subsidised petrol had previously been smuggled through Nigeria’s borders, effectively making the country bear part of the fuel consumption costs of neighbouring nations.
He cautioned that restoring the subsidy, either fully or partially, would place additional pressure on government finances and could divert substantial public resources from other areas of development.
“There is no free subsidy anywhere. Someone must bear the cost, and we should not return to a system that consumed huge national resources,” Ijabiyi said.
He appealed to Nigerians to remain patient with the economic reforms, describing the current difficulties as part of a transition that could produce long-term gains if the policies were sustained.
Ijabiyi also urged APC members in Ondo State to resolve their differences and work together towards the re-election of President Bola Tinubu in 2027.
He congratulated Governor Lucky Aiyedatiwa on his appointment as the President’s campaign coordinator in the state, saying the responsibility should be used to unite party members and mobilise support rather than fuel internal rivalry.
The APC chieftain also called for restraint in public statements and warned against personal attacks, describing the Minister of Interior, Olubunmi Tunji-Ojo, as an important asset whose popularity should be deployed to strengthen the party.