The South-West Chairman, Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), Mr. Tokunbo Korodo has described the removal of fuel subsidy by the federal government as a welcome development.

Korodo told The Guardian that a competitive market would be the fallout of a deregulated regime, noting that it will bring down the price of fuel.

“Some labour movements opposed subsidy removal in the past because of lack of confidence in the past governments; when we saw the fraud and mismanagement that went with fuel subsidy. But with the sincerity of this present government, there is the body language we are seeing in the industry, and feel it is a welcome development.”

He noted that government would need to exercise care in execution of their plans and also ensure that independent marketers are made to have access to the same product, and Nigerians will smile in the end.

Korodo called on the people to support the government on the issue, while noting however, that government on its part will need to work out ways to ensure that reviewed petroleum prices are sustained.

He said that the Nigerian National Petroleum Corporation (NNPC) should look into the way and manner it handles its products to forestall artificial scarcity, as NUPENG is well positioned to do its duty, thereby preventing the fuel cabal that wants to frustrate the government.