The International Women in Oil Marketing and Refinery have hailed President Tinubu’s bold decision to remove fuel subsidy, a move aimed at liberalizing the oil sector and promoting economic growth.
In a statement signed by its Secretary-General, Dr. P.S. Bhandari, and African Continent Director-General, Amb. Sarki Ibrahim, the organization expressed optimism that the policy change would attract investments and stimulate development in the oil and gas industry.
“For long, there has been concensus amongst industry experts and laymen alike on inevitability of removing fuel subsidy. The challenge has been “who will bell the cat?” “This uncommon courage demonstrated by President Tinubu is leadership redefined. The hallmark of leadership is the courage to take hard decisions, stay steadfast to nuture it to fruition.”
The group also seized the opportunity to urge President Tinubu to consider appointing a female Group Managing Director (GMD) to head the nation’s oil corporation, emphasizing the need for transparency, accountability, and honesty in the sector.
“The Nigerian Oil and Gas industry needs a redirection. It needs a breathe of fresh air. Since Oil exploration started in Nigeria, the position of Group Managing Director (GMD) has been exclusive preserve of men. Yet, we are far from getting the desired an Oil and Gas company that can compete favourably with it’s peers around the world. Mr. President, it’s time to give women a try and see if the outcome wont be different.”
Citing exemplary leadership, the organization highlighted the achievements of two illustrious Nigerian women: Prof. Dora Akunyili, former Director-General of the National Agency for Food, Drug Administration and Control (NAFDAC), and Prof. Ngozi Okonjo-Iweala, Nigeria’s former Finance Minister and current Director-General of the World Trade Organization (WTO).
Prof. Akunyili’s transformational leadership at NAFDAC from 2001 to 2009 revitalized the agency, making it a model for regulatory excellence. Her relentless crusade against counterfeit drugs reduced their prevalence from 40% to 10%, significantly improving healthcare outcomes in Nigeria. Under her watch, NAFDAC received international acclaim, including the 2005 World Health Organization (WHO) award.
Prof. Okonjo-Iweala’s tenure as Nigeria’s Finance Minister yielded remarkable economic reforms. She negotiated Nigeria’s debt relief, securing $18 billion in forgiveness and paying off $12 billion. Her introduction of the Integrated Payroll and Personnel Information System (IPPIS) saved billions, while transparent budgeting and open government initiatives promoted accountability.
“As a gender friendly President, we wish to remind you that many Nigerian woman have proved their mettle in the service to fatherland. How can we forget in a hurry, how late Prof Dora Akunyili courageously took on counterfeiting cabals? She put her life on the firing line for country.
“How can we forget so soon, how Nigeria drafted Prof Ngozi Okonjo-Iweala from World Bank to negotiate Nigeria’s way out of debt trap? We can’t forget how she courageously leveraged on Information Technology to save the economy billions of Naira that would have gone into private pocket?
The organization noted that these examples demonstrate the capacity of women to drive positive change in critical sectors. “Women have proven themselves in high authority positions… Another woman could bring sanity to Nigeria’s troubled oil sector,” the statement read.
They urged Nigerians to be patient with President Bola Ahmed Tinubu’s Renewed Hope administration amid the challenges that have come with the removal of fuel subsidies. The group emphasised that this difficult measure is necessary for the country to achieve a healthy economy in the near future.
According to the group, the removal of fuel subsidies is a painful but unavoidable step towards economic recovery. They likened the reforms to a woman’s pregnancy journey – a process that’s uncomfortable and painful, but ultimately leads to the joy of welcoming a new life. This analogy drives home the message that short-term sacrifices are necessary for long-term gains.
President Tinubu’s Renewed Hope Agenda aims to improve Nigerians’ lives, strengthen economic collaboration, foster social cohesion, and promote fairness and equity ¹. The administration’s commitment to these goals is unwavering, despite the temporary hardships.
The group’s appeal for patience and understanding comes at a critical time, as Nigerians navigate the impact of subsidy removal. By framing these reforms as a necessary step towards a brighter economic future, International Women in Oil Marketing and Refinery encourages citizens to endure the challenges and look forward to the benefits that will follow.