The Indigenous People of Biafra (IPOB) has said that it is not against the restructuring of Nigeria.
This was contained in a statement issued by the IPOB spokesman, Emma Powerful, on Monday, November 29, in Awka, Anambra State.
He said, “Nigerian government must bear one thing in mind; IPOB is not fighting restructuring. We are not against restructuring; but our demand is not restructuring. Our demand is the restoration of Biafra State. All we need is a date for referendum; to decide whether or not we want to continue with this forced marriage (Nigeria)
“Those who think Nigeria is ready for restructuring may have to think again. Those benefiting from the current lopsidedness have made restructuring impossible. They are unlikely to heed the clamour for restructuring.
“But for us, the only thing that can make us slow down a little is the government giving us a date for a referendum. Restoration of the sovereign State of Biafra is a divine mandate. Our eternal leader Dim Chukwuemeka Odumegwu Ojukwu told them to restructure Nigeria they said no; and killed millions of Biafrans in the war.
“Mazi Nnamdi Kanu and IPOB did not come on board to demand restructuring; we are for total freedom and independence.”
Meanwhile, the World Bank has stated that Nigeria spends $4.5 billion on fuel subsidies; indicative of 2% of GDP or 35% of oil and gas revenue.
This was also disclosed by the World Bank in the November 2021 edition of its Nigeria Development Update; tagged “Time for Business Unusual” on Monday, November 29.
According to the World Bank, benefits of the PMS subsidy overwhelmingly accrue to wealthier households; and a large share is captured by smugglers as well as black marketeers.
Households in the bottom 40% of the income distribution account; for less than 3% of all gasoline purchases.
Nigeria’s PMS subsidy imposes a massive and unsustainable fiscal burden. The cost of the PMS subsidy in 2020 rose from just 4 percent of the oil and gas revenues; that are first transferred to the NNPC (US$0.3 billion) to a staggering 35% in 2021 (US$4.5 billion or roughly 2 percent of GDP), the World Bank report noted,