Govs Meet Today Over Security, Economy

Shola Adekola, Lagos - 07.11.2009

President Umaru Yar’Adua’s declaration that the planned deregulation of the petroleum sector was inevitable may have sealed the government’s decision on the sensitive matter as governors from the 36 states of the federation will, today, meet in Yenagoa, Bayelsa State, to deliberate on how to implement the deregulation.

The governors are also expected to review the security situation in the country and the nation’s economy. Speaking to airport journalists at the presidential lounge of the Murtala Muhammed Airport, on Friday, chairman of the Governors’ Forum, who is also the Kwara State governor, Bukola Saraki, said the N650 billion spent by the Federal Government to subsidise fuel importation had always gone into the pockets of a few individuals.

Saraki, who said he had always been an advocate of a deregulated oil sector, said the planned deregulation should not be seen as President Yar’Adua’s problem alone, but that of everybody.

“We are having a meeting this Saturday in Yenogoa and I’m sure it will come up as one of the issues for discussion. Personally, I have always advocated deregulation. It is inefficient the way it is being run now. We have about N650 billion yearly that is being used to subsidise fuel importation and I have said many times that this money is going into the pocket of very few people.

“The issue is that, how do we correct the deficiencies? I don’t think it is a question of if, but it is more a question of when and consultation.

“I don’t believe this should just be the issue of the President’s agenda; governors will consult, former heads of states would consult, traditional rulers too and other stakeholders in the country would consult to find a way of implementation. When we eventually deregulate, everybody wants to know where the money will be going to; is it into railway, road or others? I don’t think anybody will see the deregulation as a way to deceive the people. I think people are wiser than that and they won’t allow themselves to be deceived again.

“I think the labour and government should sit down now and work out how to go about it. Are you for deregulation or not? Then, how do we deregulate?” he added.

Speaking on the 10 per cent the Federal Government gives to all the oil producing states in the country from all its revenue, Saraki expressed support for the decision, saying it was done to give people of the region a sense of belonging.”