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.

Presidential Election     Asa LGEA School     Kwara Polytechnic     Tuesday Assayomo     Aishat Mohammed Lawal     Henry Makinwa     Oye Tinuoye     Moses Adekanye     Abdulrahman Onikijipa     Yeketi     Undergraduate Bursary     Ibrahim Kayode Adeyemi     Lawan     Niguel Gallando Marcias     Aliyu U. Tilde     Umar Gunu     Tsado Manman     Kwara State Council Of Chiefs     Tosin Saraki     Ayodele Shittu     Mufutau Gbadamosi Esuwoye     Damilola Yusuf     Jare Olatundun     Issa Baba     Oluwatoyin Lukman     Ahmad Fatima Bisola     Ahmad Belgore     Kwara State Internal Revenue Service     Offa Descendants Union     Kwara North     Samuel Olusegun Adedayo     Ladi Hassan     Dele Momodu     UNIFEMGA     MalHub     Ilorin Muslim Community     Adanla-Irese     Special Agro-industrial Processing Zone     Sa\'ad Alanamu     Sulyman Abdulkareem     Okin Biscuits     Alfa Yahaya Road     Kemi Adeosun     ARMTI     National Association Of Nigerian Students     Mohammed Yisa     Muhammed Taofeeq Abdulrazaq     Folorunsho Erubu     Isiaka Abdulrazak     Post Utme     Mohammed Abduraheem     IEDPU     Abdulmajeed Wahab     Geri-Alimi Split Diamond Interchange     Offorjama     Communication Network Support Services     Olomu     Bayo Onimago     Mustapha Olanipekun     Kwara 2023     Timothy Akangbe     Suraj Tunji Oyewale     Kwabes     Frootify     Jamiu Oyawoye     Igosun     Aminu Ado Bayero     Dar-Al-Handasah Consultants Ltd     Oko     Adeniyi Ojo     Segun Adeniyi     Idris Amosa Saidu     Afolabi-Oshatimehin Adenike Harriet     JAMB     Bola Shagaya     Sardauna Of Ilorin     Ahmed    

Cloud Tag: What's trending

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

Ilorin Central Mosque     David Oyedepo     Mahfouz Adedimeji     Share     Yahya Mohammed     Albert Ogunsola     Assayomo     Ilorin Emirate     Oju Ekun Sarumi     07039448763     Sheikh Ridhwanullah     Kayode Ogunlowo     Eleja     Elerin Of Erin-Ile     Emmanuel Olatunji Adesoye     Abubakar Olusola Saraki     Gbugbu     Otuka     Y.A. Abdulkareem     Shehu Salau     Oluwatoyin Lukman     Abdulkarim Adisa     Women For Change And Development Initiative     Abdullahi Saadudeen Alikinla     Barakat Community Secondary School     New Nigeria People’s Party     A.O. Belgore     Folashade Omoniyi     Sarkin Malamai     Yahaya Muhammad     Ganiyu Abolarin     Muhammad Fawaz Abubakar     Umar Sanda Yusuf     Abdulwahab Ololele     Oba Abdulkadir La\'aro     Savannah Centre For Diplomacy, Democracy And Development     Okin Group     Mogaji Aare     Shagari     IDPU     The Herald     Iqra Books     Ilorin Durbar     Olugbense     Rex Olawoye     Umaru Saro     Rachael Obisesan     Share/Tsaragi     Olabode George Towoju     Yekini Adio     IHS Towers     Kwara State Sports Commission     Abubakar Baba     Orisun Igbomina     Ahmed Idris Mohammed     Awwal Jawondo     CCEPE     Durbar     Amina Susa\'a De Ahmed     Bayer Nigeria Limited     Olayinka Jelili Yusuf     Onilupeju Of Ilupeju     Lateef Ademola Olatunji     KWSIEC     Owode Market     Shaykh Luqman Jimoh     Sheikh Ridhwanullah El-ilory     Amasa     Bamidele Adegoke Oladimeji     AbdulRauf Keji     Garba Dogo     ER-KANG Mining Nigeria Company Limited     Abdulrosheed Okiki     Offa Grammer School     Apaokagi     Oyun     Rabiu Kwankwaso