Prof. Itse Sagay (SAN), Chairman, Presidential Advisory Committee
Against Corruption on Monday said there is no alternative to the
deregulation policy of the federal government is Nigeria is to survive
and be economically viable.
Sagay, who described the recent fuel
price increase as a bitter pill, said Nigeria may degenerate to the
level of Zimbabwe if the government continues to foot- drag on the
policy.
According to him “I don’t think we have a choice if
Nigeria is to survive. If we are to survive as a country and we want to
become economically viable again, this is a bitter pill we have to
swallow. If we don’t do it now, our economy will collapse”.
We will degenerate to the level of Greece. Even Greece is even
better. We will degenerate to the level of Zimbabwe. So, this is a
measure to save this country from total economic collapse. This is the
only thing we can do. It is a very bitter pill but we have to swallow
that pill in order to graduate to a brighter, greater and happier
future”.
“I don’t expect this level of increase to continue for
long. As soon as things settle down and there is competition among
importers of fuel, and our local refineries are producing more, the
prices will start coming down gradually. So, we should tighten our belt
and face it. After a few months, we will begin to see the result and
everybody will be grateful to the government for taking this bold step”
he said.
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