Tinubu’s Top Tax Reform Strategist Shocks Suffering Nigerians
* Says a litre of refined fuel in Nigeria may turn out to be the most expensive in the world
By Elem Kash
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has urged the Nigerian people to pray fervently for the outright sale of Nigeria’s existing refineries to private sector operators
He has equally warned that a litre of fuel refined by local refineries in Nigeria might become the most expensive in the world if utmost care is not taken.
Oyedele, a prominent expert in his chosen field, was one of the speakers who took part in brainstorming session organised as part of this year’s Independence Anniversary event organized by a Christian church, The Platform, which held in Lagos on Monday.
He noted that if a culture of culpable inefficiency is allowed in any way to be part of the management strategy of state-owned refineries which are about to comeback on stream, a litre of petrol refined at home might turn into the most expensive in the world.
“Nigerians would say if only our refineries were working, then we’ll be fine. Nothing can be farther from the truth than that”, Oyedele explained to his audience.
“In fact, Nigerians should come together and say please make sure that our refineries don’t work. We should sell them”, Oyedele continued.
“If Nigerian refineries process crude oil, unless we deal with our inefficiency”, he warned, “one litre of (Nigerian) petrol will be the most expensive in the world.
“You would have succeeded”, according to his estimation, “in replacing the subsidy at the pump with subsidy of the refineries.”
“The National Assembly said we have spent over N10tn maintaining our refineries even when they have not produced anything,” Oyedele said during the event tagged ‘Africa Rising Continent – Nigeria’s Strategic Role’.
Taiwo Oyedele advocates for sale of national refineries.Focusing intently on policy implementation, the tax Strategist observed, “Policy is not what you say you will do; it is about how you do it.
“The issue is not the policy but how the policy is implemented. There must be proper coordination of policies, with a focus on outcomes.”