Budget Office Boss Tells FG To Channel Fuel Subsidy Funds To Universities

The Director General of the Budget office of the Federal Republic of Nigeria, Ben Akabueze has advised the Federal Government to channel the trillions of Naira spent on fuel subsidy to university education in Nigeria to stem the tide of incessant strikes.

Speaking on Arise TV’s Global Business Report, the Director General said: “The truth is public servants need to be paid far better than they are now. It’s like the ongoing issue regarding ASUU and the pay for lecturers.

I haven’t come across anyone in government who thinks that lecturers are adequately paid or who thinks lecturers should not be paid significantly more. The crux of the (ASUU) matter is the ability to pay. It is why this matter has dragged on because government has refused to commit to a number that it does not have the ability to pay.”

When asked if fuel subsidies can be redirected to ASUU, as well as increment in the pay of government staff, Akabueze said; “There’s no doubt that when you eliminate fuel subsidies or cut back on it, there will be an immediate impact on people. Government has been looking at how to cushion that effect in the immediate term. This is part of why we’ve not seen investment in the midstream sector of Nigeria’s oil and gas industry.

When you have an industry where price is not market-driven, people can’t really make investments. People can’t fund refinery projects on a project finance basis.”