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.

Bamidele Aluko     Ahmed \'Lateef     TESCOM 2025     Guber Aspirant     Ganiyu Taofiq     Is\'haq Modibbo Kawu     Coronavirus     Aisha Buhari     Ayodele Kuburat Olaosebikan     Aisha Abodunrin Ibrahim     Old Oyo     Naira Redesign     Yekeen Alabi     Saba Jibril     James Ayeni     Al-Ilory     Madawaki     Lanre Badmas     Doyin Agbamu     Apaola     Offa     Bello Oyebanji     Apata Ajele Secondary School     Yusuf Badmus     Ebola     AGF Abdulrazaq     Maigidasanma     VADA     Tunji Moronfoye     Dar-Al-Handasah Consultants Ltd     Akande Idowu Ayoola Muhammed     Turaki     Ibrahim Labaika     Suleiman Mora Omar     Emir Of Yashikira     Hameed Oladipupo Ali     Rebecca Olanrewaju     Jumoke Monsura Gafar     Special Agro-industrial Processing Zone     Balikis Jawondo     Moses Salami     Ariyo     Code Of Conduct Tribunal     Kwara State Governor     Kwara Apc     Olateju Lukman     Nupe     Modibo Kawu     Face Masks     Olanrewju Okanlawon Musa     Kayode Bankole     Folajimi Aleshinloye     Jumoke Gafar     Ashiru     CACOVID Palliatives     Olusola Saraki     Eleyele     Ijagbo     Raimi Iyanda     Kwara State Sports Commission     Maigida Soludero Transit     Tunde Yusuf     Muritala Awodun     Harmony Holdings     Ilorin Emirate     Dankaka     Abdullahi Saadudeen Alikinla     Joshua Adeyemi Adimula     Usman Rifun     Post Utme     Abubakar Abdulraheem     Abiodun Oyedepo     Abubakar Baba Sulaiman     Rafiu Olasile     Awodun     Smart School     Tanke Flyover Bridge    

Cloud Tag: What's trending

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

Sodiya     Federal Road Maintenance Agency     Isaac Aderemi Kolawole     RTEAN     Dan Iya     Alfa Modibbo Belgore     Nurudeen Muhammed     Public Holiday     Fulani     Oyeyemi Olasumbo Florence     Aliyu Olatunji Ajanaku     Leke Ogungbe     Saheed Alakoso     CBT     Sabi     Abdulkadir Orire     Democracy Day     Abdulrahman Iliasu     Aliyu Sabi     Abdulrazaq Sanni     Jide Oyinloye     Neuropsychiatric Hospital     AbdulRazaq Jiddah     Radio SBS     Isau     Elerinjare     Suleiman Ajadi     Ramadan     Baba Idris     Kaosarah Adeyi     Kolawole Akande     Lola Ashiru     Timothy Olatunde Fadipe     Saba Jibril     Saliu Tunde Bello     Government High School Adeta     Olatunde Jare     Haruna Olawale Sulaiman     Abdulrauf Yusuf     Face Masks     Kanu Agabi     Agboola Babatunde     Orisun Igbomina     Oloyede     Agboola Abdulraheem     Oke-Kura     Old Oyo     Yusuf Amuda Gobir     Musibau Akanji     Kwara State Governor     IYA ALFA NLA     Segun Ogunsola     Village Alive Development Association     Wahab Agbaje     Kwara Poly     CT Ayeni     Niyi Osundare     Buhari     Ile Arugbo     Razaq Atunwa     Olusegun Adeniyi     Oko-Erin     Sidikat Akaje     Adama Isa     Oba David Oyerinola Adedunmoye     Pakata Development Association     Sidikat Uthman Ajibola     Bello Oyebanji     Local Government     Ibrahim Abdulkadir Abikan     Irepodun     Abubakar Ndakene     College Of Health     Yoruba     Babs Iwarere     Onikijipa     Unilorin