Nasir el-Rufai, governor of Kaduna state, has asked the
federal government to end the costly petrol subsidy which has negatively
affected Nigeria’s economy.

The governors made the call on Tuesday in Abuja during a
panel session at a policy deliberation themed ‘How Nigeria Can Build a Post-Oil
Economic Future’.

The event was jointly organised by the Africa Programme of
the Carnegie Endowment for International Peace, and Agora Policy, an
Abuja-based think tank.

Speaking at the event, el-Rufai said there is a need to end
petrol subsidy and to be pragmatic about solutions to the country’s problems
instead of delaying.

He listed the components of its recommendation to include a
framework on investments in security, social protection, infrastructure on
health and education, among others.

“We worked with experts and the World Bank and came out with
a report on what to do with the resources which would be transparently
explained to Nigerians,” the Kaduna governor said.

“In 2021, the federal government’s budget for road was N200
billion and in 2021 we were projecting to spend N1.2 trillion on subsidy and we
saw the danger and I called for its removal.

“We have a framework and the economic council agreed for it
to be withdrawn because we had a clear plan on where the money should go which
includes federal, state and local government for interventions.

“It is still on and currently we are looking at N6 trillion
on subsidy but go and check the national budget on infrastructure on health and
education, it is not up to that and does not make any sense, so we need to end
the subsidy.”

On his part, Chukwuma Soludo, Anambra state governor, called
for transformational leadership and agenda, saying that the incoming
administration has a chance for a fresh start.

 “It has to start by
getting the team assembled and getting to work immediately with institutional
reforms and a competitive system,” he said.

Soludo advised the government to study case studies of
successful subsidy removal and replicate them in the country.

Also speaking at the event, Muhammadu Sanusi II, the former
Emir of Kano, who was a special guest, underscored the need to prepare the
minds of Nigerians on bad decisions that have bankrupted the country and close
that hole.

Sanusi said in order to get it right, the incoming
government should place competent officials in suitable positions.

 “We are going to have
a government sworn in May 29 and I think we have to start stating what is
expected of that government,” he said.

“What do we, as Nigerians, classify as a milestone that
shows we are heading to the right direction? We also need a government that
understands the depth of the crisis that we are in.”