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.

Senate Presidency     Mohammed Danjuma     Risikat Lawal     Buari Edun     Bola Magaji     TVC Female National Debate     New Naira Notes     Esuwoye     Arca Santa     Aliyu Sabi     Stephen Fasakin     Chikanda     Olaiya Zuberu     Ifelodun     Universal Basic Education Commission     Ilorin Airport     Alaaya     Mutawali     Olatinwo     Ayinde Oyepitan     Gbemisola Oguntimehin     Garment Factory     Talaka Parapo     CCEPE     Undergraduate Bursary     Mohammed Halidu     Oke-Kura     Ayinke Saka     ER-KANG Mining Nigeria Company Limited     Abdulhakeem Adelaja Amao     Shururat Olatinwo     Kabir Shagaya     Kassim Babamale     Abubakar Atiku     Oba Sulaiman Asude     Jebba     Okin Biscuit     Offorjama     Saadatu Modibbo-Kawu     Abdul-Rasheed Na\'Allah     Council Of The Wise     Otuka     Shonga     Olaoye B. Felix     Bibire Ajape     Gbugbu     Ibrahim Taiwo Road     Sanusi Abubakar     Omu-aran     Solomon Edojah     Abubakar Baba Sulaiman     Cornelius Adebayo     Idris Amosa Oladipo Saidu     Muhammad Mustapha Suleiman     Funmilayo Isiaka Oniwa     Ibrahim Mohammed     Sidikat Alaya     University Road     KWASSIP     Siraj Oyewale     Bayo Mohammed Onimode     Arik     Moses Afolayan     Ibrahim Jawondo     Babs Iwarere     Prince Bola Ajibola     Salau Kabiru Abdullahi     Gbenga Awoyale     KWASAA     Mahfouz Adedimeji     Abdulkadir Remi Hawawu     Medinat Folorunsho Salman     Ridwan Agboola     Majlis For Sadaqah, Zakat And Waqf     Akume     COVID-19 Palliatives     Tunji Ajanaku    

Cloud Tag: What's trending

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

Shettima     Raimi Iyanda     Toyin Olayinka Tejidini     Babajide Ajayi     07039448763     CUTI     Democracy Day     Amina El-Imam     Fola Consultant     Government House     Road Transport Employers Association Of Nigeria     Alikinla     Fatai Garuba Labaka     Matthew Babaoye     Segun Olawoyin     Onilorin Of Ilorin     Ibrahim Akaje     Adisa Logun     UTME     Kanu Agabi     Sherif Shagaya     Nurudeen Muhammed     Binta Abubakar-Mora     Mashood Abdulrafiu Agboola     Chief Imam Of Offa     Niyi Osundare     AbdulRaheem Ahmad Shayi     Ekiti     LEAH Charity Foundation     Prince Bola Ajibola     Aliyu Alhassan     BIR     Durbar Festival     Funke Adedoyin     Arinola Lawal     Oniye     Air Peace     Folorunsho Alao     Shehu Adaramaja     Quareeb Islamic Association     Undergraduate Bursary     Aminu Ado Bayero     Ibrahim Abdulqadir Abikan     Ilesha-Baruba-Gwanara     Suleiman Abubakar     Agboola Babatunde     Saba Jibril     Trade Lenda SME Fair     Magaji Nda     Sabi     Ayotunde Emmanuel Alao     Umar Ahmed Gunu     Nagode     Bursary     Yusuf Babatunde Abdulwahab     Abdulazeez Arowona     Adanla-Irese     Hamid Bobboyi     Balogun Ajikobi     Mohammed Katsina Ahmed     Segun Adeniyi     Lithium     Usman Yunusa     Women For Change And Development Initiative     Ajibike Katibi     Monkey Pox     Omoniyi M. Ayinla     Oko-Erin     Opaleke Bukola Iyabo     Bluenile Associates     Bankole Omisore     Idi-Ape     2023 Elections     Musa Yeketi     Mohammed Kamaludeen     Alaaya     Idris Garuba