Subsidy Removal: Tinubu directs Shettima, NEC to begin work on betterment of Nigerians

Date: 2023-06-08

President Bola Tinubu has directed the National Economic Council, NEC, led by Vice President Kashim Shettima, to begin the process of working on interventions to ameliorate the impact of subsidy removal on the people.

The President's directive came on a day governors of the 36 states of the federation threw their weights behind the removal of petrol subsidy.

This is even as major oil marketers yesterday donated 100 mass transit buses worth N10 billion to the federal government to cushion the effect of subsidy removal.

The governor of Ogun State, Dapo Abiodun, stated this after leading some major oil marketers on a courtesy call on President Tinubu at the Presidential Villa, Abuja, yesterday.

Briefing State House correspondents after the courtesy visit, the governor said the marketers were in the presidential villa to express solidarity with the president for his bold decision to end subsidy payment.

He noted that Tinubu's action showed his determination and courage to remove the hermorrhage that had bedeviled the country for decades.

He said the country was spending about N4 trillion annually on subsidies, which should, henceforth, be taken to the Federation Account Allocation Committee, FAAC, for sharing among three tiers of government.

The governor said while there would be some discomfort on the part of the people, the move would eventually pay off as there could be no gains without pain.

Dame Winifred Akpani, Chairman of DAPPMAN, said the courtesy visit was to express the major oil marketers' utmost support to the federal government.

She said they were aware of the difficulties the subsidy removal had created in the country, expressing optimism that it was going to reposition the country.

Dame Akpani noted that Nigeria in the first three months of 2023, had spent over N2 trillion, adding that if it continued with the payment, the amount might spike to N7 trillion at the end of the year.

She said through subsidy, Nigeria had been feeding her neighbouring countries, adding that it could no longer subsidise fuel for African countries, while its economy continued to bleed.

The marketers announced their intention to donate 50 to 100 mass transit buses to help the success of the initiative, hoping that other well-meaning corporate bodies would do the same.

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Savannah Centre For Diplomacy, Democracy And Development     Age AbdulKareem     Kwara Teaching Service Commission     TIC     Kwara State Printing And Publishing Corporation     Razaq Atunwa     Emmanuel Bello     Olateju Lukman     Bank Of Industry     Woro     Leke Ogungbe     Kwara State Geographic Information Service     Suwa-Arabs     Abdulrazaq Akorede     KWASAA     Ahmed Bolaji Nagode     Tosin Saraki     Ajibola Ademola Julius     National Pilot     Yahaya A Paniyaro     Saka Aleshinloye     Sulyman Atolagbe Alege     Raliat Elelu-Habeeb     Hakeem Idris     Shaykh Luqman Jimoh     Oba Mogaji Abdulkadir     Kwarareports     Alaiye     Isiaq Khadeejah     Olabode Towoju     International Vocational Centre     Muyiwa Oladipo Kanu     Taofeek Sanusi     Labaeka     Saadu Alanamu     Chief Imam Of Ilorin     Bello Oyedepo     Olawuyi     Ilorin Central Mosque     Oyun     20 Billion Bond     Kale Bayero     Saheed Akinwumi     Aliyu Kora Sabi     Abdulrahman Abdullahi Kayode     A.G.F Abdulrasaq     Ahmed Shuaib Buranga     Ndakene     Pakata Development Association     CACOVID     Aliyu Muhammad Saifudeen     Segun Adeniyi     Ishola Moses Abiodun     Olatomiwa Williams     Ayodele Olaosebikan     Yahaya Seriki Gambari     Curfew     Oluranti Idowu     Oko     Coalition Of Kwara North Groups     Jaigbade Alao     Saba Mamman Daniel     Alaaya     Eghe Igbinehin     Rabiu Kwankwaso     Rachael Obisesan     Shagari     Al-Ilory     Adisa Logun     Mohammed Abdulahi     Unilorin FM     Shehu Alimi Foundation     Moronfoye     Afetu Of Alabe     Jamila Bio Ibrahim     Abiodun Oyedepo     Maigida Soludero Transit    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Abdullahi Imam Abdullahi     Olohungbebe     Femtech     Sa\'adatu Modibbo-Kawu     Kwara University Of Education     Balogun Gambari     Hamidat Sulyman-Yusuf     Olupako Of Share     Ishaq Abdulkarim     Amina Susa\'a De Ahmed     Chief Imam Of Offa     Aasiyat Bello Oyedepo     Idris Garuba     Femi Gbajabiamila     Madawaki Of Ilorin     Abdul-Rahoof Bello     Bello Oyedepo     Abdulmajeed Wahab     Rotimi Oyedepo     First Lady     Kanu Agabi     Christopher Ayeni     ASMAU PLAZA     Kayode Ibrahim     Ajikobi     Ilorin Emirate Staff Association     Saeedat Aliyu     George Funsho Adebayo     Muslim Stakeholders Of Kwara State     Kolade Solagberu     ER-KANG Mining     Col. Taiwo     Afolayan     Jumoke Monsura Gafar     Sebastine Obasi     Bilikisu Gambari     Umar Danladi Shero     Tunde Akanbi     Abdulwahab Ololele     Adesoye College     Funmilayo Mohammed     Balogun Ajikobi     Shettima     Baboko     Shuaib Jawondo     NFAI     Ridhwanullah Al-Ilory     Wasiu Odewale     Oba Abdulrahim     Bolakale Saka     Rapheal Ashaolu     Gwanara     Javed Khan     Neo Mundo Ltd     Lanre Aremu     Pacify Labs     Admiralty Villa     Mohammed Katsina Ahmed     Egbejila     Funmilayo Oniwa     Olatunji Abdulmumeen     Sulu Gambari     Kwara State Fire Service     Bukola Ajikobi     Haliru Dantoro     Trader Moni     Soffiyyallah Kamaldeen     Saka Balikis Kehinde     Oko Erin     College Of Arabic And Islamic Legal Studies     Kwara-SAPZ Project     Forgo Battery Company Limited     Jimoh Saadudeen Muhammed     Roseline Oni Aremu     Yahaya Abdulkareem Babaita     Mustapha Olanipekun     COVID-19 Palliatives