Oil subsidy removal hasty, ‘ll boost economy—Dr. Anyaso
Chigozie Amadi
Businessman and downstream sector player, Dr Chima Anyaso, said the removal of fuel subsidy by President Bola Tinubu has the potential to boost Nigeria’s economy even though it was hastily done last year.
Anyaso, the Managing Director of Caades Group, told Daily Champion that the removal of oil subsidy was necessary and helped government to generate more revenue from it.
He said, “Revenue generation will probably improve based on that decision.”
However, the downstream sector player criticized the manner of the subsidy removal, calling it “hasty.”
According to him, “The way and manner that it [oil subsidy] was removed was a bit hasty. It should have been removed but in a more tactical and calculated manner,” adding that the policy had positive and negative effects while the final consumers of oil-based goods bear the brunt of the latter.
“The general masses who are the final consumers are feeling it the most. The negative effect is felt everywhere while the positive effect is for the government,” he stated.
The business mogul said though he is not an economist, he encountered people who made money from the subsidy removal and others who lost money.
Anyaso has led Caades Group; a conglomerate of energy, oil and gas, real estate, hospitality, medical and financial companies, for over a decade.
For him, oil and gas is the cornerstone, as according to him, “Our [Caades Group] core business is oil and gas, even though we diversify into the real estate sector.”
He said the group’s real estate operations, above all else, are to build and sell.
In hospitality business, Anyaso said he aims to stand out.
“We are not just hotel owners, we are service-driven.”
That is why we focus on building boutique hotels that will be a home away from home,” Anyaso continued.
Besides, he has charity engagements through a non-governmental organisation for the training of children who cannot afford a basic education.
According to him, The Ahuoma Anyaso Foundation which he established over 17 years ago is a modern school that has kept graduating children from Primary 6 and Nursery 3 classes.
“It [the Foundation’s school] was for those who cannot afford it and they [the beneficiaries] are even receiving a better education than the people who can afford public education.”
He refers to himself as “just a simple man, a simple businessman and entrepreneur.”
Anyaso said he values integrity as the most important human attribute, adding that words to live by are: “You are not rich until people can trust you.”
