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‘Fuel Subsidy Killing Nigeria’s Economy’ – Oil Magnate

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An oil magnate, Chief Tony Onukeme, has urged the Federal Government to remove all forms of subsidy on petroleum products.

Chief Onukeme made the call in Awka, Anambra State on Friday.

He said the subsidy regime had contributed greatly to the underdevelopment of the nation’s oil sector and had led to the starvation of other sectors of the economy of the resources required for growth.

“The survival of Nigeria is in the hands of the private sector.

“I advise the Federal Government to remove the fuel subsidy; it is the fuel subsidy that is killing the economy of this great nation.

“An individual can build private refineries and sell refined products instead of buying refined products from abroad (and selling them to Nigerians).

“If we actually want to live; if we want to survive as a nation, there must be complete removal of fuel subsidy”.

Onukeme, who is the managing director of Tonimas Group, said that recent developments in the world oil market had made the importation of refined petroleum products an unsustainable venture.

The oil magnate argued that the Nigerian economy could be protected from unnecessary stress occasioned by constant fuel scarcity, if government would encourage local refining of crude.

He further said that the private sector remained the major driver of any economy and should be encouraged by the Federal Government to set up oil refineries.

Onukeme said the Organised Private Sector in the country was eager to see the impact of the change mantra of President Muhammadu Buhari’s administration on business and the economy.

He expressed optimism that the Nigerian economy would wax stronger in the course of the Buhari administration and called on stakeholders in a better Nigeria to be patient and be supportive of the administration’s economic reforms.

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Youths Burn Down Sanwo-Olu’s Mother’s House In Lagos (VIDEO)

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Youths Burn Down Gov Sanwo-Olu’s Mother’s House In Lagos (VIDEO)

Youths Burn Down Gov Sanwo-Olu’s Mother’s House In Lagos (VIDEO)Lagos youths have set the family house of Governor Babajide Sanwo-Olu on fire.

This was after the Governor said that no nobody was killed during the shooting by soldiers at Lekki Toll Gate on Tuesday night.

Sanwo-Olu had debunked claims that the soldiers opened fire and killed some peaceful protesters.

Recall that men of the Nigerian Army reportedly opened fire on protesters following the declaration of 24 hours curfew by the Lagos State Governor, Babajide Sanwolu.

Bullets fired by security operatives hit some persons and at least two persons have been confirmed killed by the police and many injured

Voices in viral footage blamed the shootings on soldiers.

However, the angry youth attacked several important places such as Nigeria Port Authority, TVC News, and the family house of the Governor where his mother resides.

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#LekkiMassacre: Hoodlums Storm TVC Station In Lagos; Set Properties On Fire (Video)

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#LekkiMassacre: Hoodlums Storm TVC Station In Lagos; Set Properties On Fire (Video)
Properties in the conpound on fire

Properties in the compound on fire

Hoodlums have reportedly invaded the headquarters of popular news station, TVC, believed to be owned by National Leader of APC, Bola Tinubu.

According to reports, the staff of the news station are being trapped in the building located in Lagos.

Videos circulating online shows that properties in the compound have also been set ablaze.

The news station is currently off air and this comes hours after Nigerians accused the Lagos politician of having a hand in the #LekkiMassacre.

Information Nigeria recalls security agents had opened fire at peaceful #EndSARS protesters at Lekki Tollgate on Tuesday.

In a video circulating online, the anchors of one of the shows, ‘Your View’ were heard saying that there were hoodlums at their gate trying to break into the premises.

Read Also: #EndSARS: Nigerian Army Denies Shooting At Protesters In Lekki

Watch the video clips below:

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Several Injured As Thugs Attack #EndSARS Protesters, Governor Oyetola In Osun

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Several Injured As Thugs Attack #EndSARS Protesters, Governor Oyetola In Osun
Several Injured As Thugs Attack #EndSARS Protesters, Governor Oyetola In Osun

#EndSARS protesters in Osun

The Governor of Osun State, Gboyega Oyetola on Saturday, escaped an attack by thugs which happened while he was addressing #EndSARS protesters in Osogbo, the state capital.

Some of the vehicles in the Governor’s convoy were also destroyed by the thugs but the Governor himself was evacuated to safety by his security team.

Also Read: #EndSARS: Hold Enugu State Govt Responsible If Anything Happens To Us – Phyno, Kcee, Zoro

As the convoy was leaving the protest venue, some of the youths continued to stone his vehicles.

While the protest was disrupted, Governor Oyetola assured the injured victims that the government would be responsible for their medical bills.

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