MAN's chief faults fuel subsidy removal plan

THE Chairperson, Manufacturers Association of Nigeria (MAN), Kwara and Kogi states' branch, Princess Omolola Olobayo has urged the Federal Government to rescind its proposed plan to remove oil subsidy from petroleum products so as to allow its investments drives policy to yield positive results on NigeriansOlobayo stated this in Ilorin on Tuesday shortly after her investiture as the Matron of the Correspondent Chapel of the Kwara State Council of the Nigeria Union of Journalists (NUJ).According to her, 'removing oil subsidy at this odd hours of the nation's economic plan strategy would spell a doom for manufacturing industries and thereby discouraging investors to invest in the country'.She explained that, if such removal is done, it would affect the production capacity of the manufacturing industries in view of the cost it would have on production.Olobayo said, 'for us in manufacturing sector, we suffer a lot, the two major fuel we use, black oil and diesel, their prices have gone up that it used to be, and for government to remove oil subsidy now, it would go a long way of affecting production capacity of the manufacturers '.She added that, this ugly situation if allowed to materialised, it would dampen the morale of the manufacturers to invest more in the country in view of the cost it would involve in the production processes.Olobayo noted that, apart from the fact that, it would affect the manufacturing industries, the members of the public would also feel the impacts of it.She, therefore, appealed to the government not to add to the sufferings of the manufacturers and members of the public through the removal of oil subsidy.Olobayo also assured the media practitioners in the state that, it would do everything possible towards enhancing their professional practice in the task of building a virile nation.
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