Investment of the fuel subsidy proceeds to other sectors of the Nigerian economy has been identified as critical to national development.
A non-governmental organization known as the National Association of Concerned Nigerian Youths made this known while presenting a seven-point awareness demand to Nigerian Nationcal Petroleum Corporation NNPC should the fuel subsidy removal be implemented.
The group advocated for an online transparent platform to monitor post-subsidy funds for the benefit of Nigerians.
According to the President of the association, Mr. James Omailey, “the funds would be used in the improvement of infrastructure in tertiary institutions that are spread across the federation. We want automatic placement on admission and scholarship to students and other scholarships abroad.”
He stressed the need to reinvest the subsidy funds on security intervention through transparent recruitment of 100,000 personnel into the Armed forces and the Police.
“There should be immediate overhaul of our Military apparatus and purchase of modern hardware to tackle security challenges,” Omailey added.
The coordinator of the association, Mr. Gozie Kendrick identified improvement in the healthcare services of the country with the subsidy proceeds as important in addressing health challenges.
He said “we demand N200bn start-up funds to empower 20,000 Nigerian youths who intend to go into entrepreneurship.”
The group expressed confidence that the demands will receive the desired attention by the relevant authority.
Nneka Ukachukwu
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