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.

Ahmad Lawan     Baba Issa     Tunji Ajanaku     NYSC     Wasiu Onidugbe     Maigidasanma     Shoprite     Abdulrasheed Akogun     IF-K     Salary     Muhammed Mahe Abdulkadir     Adebara     Bilikisu Gambari     Harrison Osauwagboe     Neuropsychiatric Hospital     Talaka Parapo     Col. Ibrahim Taiwo     Gbenga Olawepo     Balogun-Ojomu     Sunday Otokiti     Modibo Kawu     Bola Sagaya     Zaratu Umar     Na\'Allah     Bukola Saraki     Ayo Opadokun     Erin-ile     Amusement Park     Sobi FM     Saka Saadu     Ghali Alaaya     Elerinjare     Matthew Okedare     Fulani     Oluwole Dupe     First Lady     Ojo Isekuse     Obuh     Jimoh Akani     Yusuf Abubakar     Ilorin West     Isapa     Elections     Aminat Ahmed     Isau     Kunbi Titiloye     Yeketi     Hassan Abdulazeez Elewu     Cassava Growers\' Association     Habeeb Abdullahi Al-Ilory     Okin High School     Christian Association Of Nigeria     Offorjama     AbdulGaniyu Kareem     Kuliyan Geri     HAMFAT Clinic And Maternity     Emir Of Kano     Sa\'adatu Modibbo-Kawu     Kayode Laro     Code Of Conduct Tribunal     Suleiman Mora Omar     Okoolowo     Abdulfatai Baakini     Ishaq Abdulkarim     Savannah Centre For Diplomacy, Democracy And Development     Kayode Yusuf     GGDSS Pakata     Ahmad Olanrewaju Belgore     Senior Special Assistant On Student Affairs     Tafida     Kwara State Television     Mahmud Durosinlohun Atiku     Kehinde Baale     Niyi Osundare     Albert Ogunsola     YAKOOYO     Admiralty Villa    

Cloud Tag: What's trending

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

Yakubu Mohammed Abdullahi     Bukola Saraki     Kemi Adeosun     Ejidongari     Najim Yaasin     Oba Mogaji Abdulkadir     Zainab Abass     Quran     Haruna Tambiri Mohammed     AbdulRazaq AbduMajeed Alaro     Ilorin Talaka Parapo     Oke-Kura     Mumeen Lah     AbdulRaheem Ahmad Shayi     Dorcas Afeniforo     Funmilayo Mohammed     Galland Marcias     Budo-Egba     Mohammed Katsina Ahmed     Garba Idris Ajia     Osuwa     Sambo Murtala     Onilorin Of Ilorin     Iyiola Oyedepo     Saeedat Aliyu     Elections     AGF Abdulrazaq     General Tunde Idiagbon International Airport     Gwanara     CKNG     Jide Oyinloye     Jamiu Oyawoye     Tsaragi-Share     Kwara Restoration Project     Abdullahi AbdulMajeed     Na\'Allah     Oba Abdulrahim     United Nigeria Airline     Mujtabah Bature     Yinka Aluko     Ubandawaki     Dankaka     Abdulrasaq Alaro     Simeon Sule Ajibola     Oba David Oyerinola Adedunmoye     ASMAU PLAZA     Magaji Erubu     Albert Ogunsola     Olufolake Abdulrazaq     MMWG     Salaudeen Oyewale     Dauda Adesola     UNILORIN Alumni     Ayodele Shittu     Khadijat Ayoola Yusuf     Mohammed Abduraheem     Oya State     Muhammad Yahya     Yusuf Zulu-Gambari     Hameed Oladipupo Ali     Ibrahim Taiwo     CBT     Ita-Nmo Market     Bola Shagaya     Orisun Igbomina     Curfew     Al-Hikmah Radio     Akanbi-Oke     Ibrahim Abdulkadir Abikan     Al-Adaby     Kayode Oyin Zubair     Omu-aran     COEASU     Adanla-Irese     Olomu Of Omu-Aran     Umar Yakubu Jaja     Alliance For Democracy