Fuel Subsidy Is Organised Crime, Says Peter Obi

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The presidential candidate of the Labour Party, Peter Obi has said the government is behind oil theft in the country.

Obi, who is the guest speaker at the Private Sector Economic Forum of Lagos Chamber of Commerce and Industry (LCCI), asserted that no one can steal oil except the government.

According to Mr. Peter Obi , Subsidy is organised crime, while addressing the audience at the event on Monday in Lagos insisting the nation needs an aggressive production of local refining.

The presidential candidate who made the remarks while answering questions from panellists at the event also reacted to a question on the issue of cost of governance.

He insisted that there was a need for an overhaul of the security architecture in the country, proposing multi-level policing from the federal to the community security system.

Oil theft, debt burden, subsidy regime, foreign exchange, and other economic issues were core areas the forum expected each of the candidates to address ahead of the 2023 elections.

The LCCI, which has organised the event for the past 16 years, said it was interested in the economic agenda of each of the candidates aspiring to take over the leadership mantle at the end of President Muhammadu Buhari’s administration.

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