Boma Achenimie 
Renowned Professor of Political Economy, Pat Utomi, has advocated for the reintroduction of subsidy on petroleum products.
He made this call during an appearance on Channels Television’s Politics Today, amidst the ongoing fuel scarcity and surge in petrol prices.
Utomi emphasized the need to recognize essential areas where Nigerians require fuel and subsidize those sectors.
He cited the example of the United States, which provides subsidies for agriculture, highlighting that subsidies can be directed towards specific areas.
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Nigeria has been grappling with increased living costs due to government reforms aimed at ending fuel subsidies and liberalizing the naira currency.
This has led to a significant spike in inflation, with fuel scarcities becoming more frequent.
The removal of fuel subsidies has caused petrol prices to more than triple in some states, resulting in higher food and transport costs.
Utomi criticized the political class for the suffering experienced by Nigerians, stating that they are responsible for the country’s misery.
He emphasized the need for the political class to take responsibility and acknowledge their failures.
He also highlighted the disconnection between the political class and the general public, stressing that people feel disconnected from those in power.
Utomi’s call for the return of subsidies on petroleum products comes as many Nigerians continue to struggle with the economic hardships caused by the fuel scarcity and price hike.
