The Federal Government has been urged to probe the activities of Nigerian National Petroleum Company Limited (NNPC) and its subsidiaries as well as the Central Bank of Nigeria (CBN) on alleged mismanagement of the subsidy regime.
    
The Network For Democracy And Development (NDD), in a communiqué, after extensive consultation among its stakeholders across the country, urged President Bola Ahmed Tinubu to set up a high-powered panel comprising accomplished and respected professionals to probe the activities of both bodies on the alleged mismanagement of the subsidy regime.
  
The group, in a communiqué by its National Coordinator, Tajudeen Alabede and General Secretary, Mallam Muhammad Jameel Muhammad, said that the probe should revisit past investigations, especially the Farouk Lawan subsidy panel.
   
According to the group, subsidy is a universal reality, because even in developed economies across the world, essential services are largely subsidised.
   
It stated that there was inadequate consultation with stakeholders prior to the declaration of the removal of fuel subsidy as one of the earliest decisions of President Bola Ahmed Tinubu. In the same vein, the root causes of the problem were not addressed while mitigating measures were not articulated.

NDD also said that government narratives tend to criminalise fuel subsidy rather than corruption, meanwhile it has not provided empirical data that links the removal of fuel subsidy to improved wellbeing of citizens.
  
It stated that NNPCL, which is at the heart of the subsidy challenge is now given a lifeline as the saviour. Calling on government to work in concert to address the challenge of large-scale poverty in the country, it stated that: “the poverty level in the country is unacceptable. It is a shame that, with more than 130 million Nigerians who are multi-dimensionally poor, nearly 12 per cent of the world population in extreme poverty live in Nigeria.”
   
Describing subsidy removal as a bitter pill to swallow, the group called the president to address the primary reason behind the subsidy brouhaha, which is corruption.
  
“The Federal Government should take bold steps to stem other criminal activities that are associated with the oil industry including oil theft, non-functioning refineries, unexecuted turnaround maintenance contracts and smuggling of fuel to neighbouring countries.
   
“While the government continues to negotiate with organised labour on mitigating measures, steps should be taken to attend to the wellbeing of small businesses and the majority of Nigerians who are not salary earners.
   
“It is important that the fund to be saved from the removal of fuel subsidy is judiciously utilised to develop public infrastructure and improve the living condition of the masses.
   
“We appeal to public officials at all levels to lead by example by cutting down the cost of governance. At a time like this, those whose decisions would impose an austere lifestyle on the masses should not be seen to live ostentatiously”.
   
In order to reduce pressure on fossil fuel, it urged the federal and state governments to invest more in alternative energy sources that are renewable, eco-friendly and more affordable.