The Nigerian Employers’ Consultative Association (NECA) has urged the Federal Government to remove fuel subsidy, which has become a conduit pipe for the misappropriation of funds.
It argued that it subsidy was not sustainable, as the country cannot continue to fund inefficiency.
The association made the call, while reviewing the 2019 budget assumptions of the Federal Government.
It expressed apprehension about the capacity of the budget to move the economy out of the woods, create jobs and improve the human capacity potential of Nigerians.
President-General of NECA, Timothy Olawale, called for the elimination of resource wastages, perpetrated through the never-ending turnaround maintenance on the old refineries, encouragement of private investor in modular refineries and a total deregulation of the downstream sector. Read more