Tinubu had earlier on Monday, in Abuja, affirmed that his administration would not continue to pay subsidy on petroleum products.
He said given the high opportunity cost the Federal Government was suffering to fund subsidies, it was no longer justifiable to continue.
The development had triggered a 100 per cent hike in transport fares, while long queues resurfaced at fuel stations across Lagos, Abuja, Ilorin, Benin, Asaba, Port Harcourt, Kano, Makurdi and other major cities and urban areas.
To worsen the situation, many outlets shut down their facilities and refused to dispense fuel to motorists, further creating scarcity and panic buying at the fuel stations that were opened to customers.
Addressing a press conference in Abuja on Wednesday, Convener of The Natives, Smart Edward, backed Monday’s pronouncement by Tinubu, saying no nation can continue to waste about N400bn on a few people monthly.
While calling for the arrest and revocation of license of any marketer caught sabotaging the system, the Executive Secretary of Petroleum and Energy Related Matters urged the new administration to reinvest the subsidy money on job creation, digital economy, healthcare, infrastructure, education, agriculture and incentives for the citizens.
He said, “No country can consistently allow N400bn monthly to a few Nigerians. Rather the 400b per month can be invested in the proposed one million jobs, digital economy, health, infrastructure, agriculture, education and incentives. We, therefore, call on Mr. President to give no restraint to the immediate revocation of any license of saboteurs. Deal decisively with any attempt to make life unbearable for citizens by any beneficiaries of subsidy or its removal.
“This is the time to reinvest over N400bn monthly on us and for the sake of our parents and our children. We shall engage President Bola Tinubu meaningfully to ensure that this country is governed under the rule of law and for the prosperity of all Nigerians. The first burden is to free our nation from those that held us bound by fleecing our resources and impoverishing the people.”
