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.

Kayode Laro     Balogun Fulani     Folorunsho Erubu     Ubandoma Of Ilorin     Yusuf Abdulwahab     Moji Makanjuola     Ilorin Curfew     IFK     Ahmed \'Lateef     Zulkifli Ibraheem     Oluranti Idowu     Abdulazeez Arowona     All Peoples Party     Galadiman Ngeri     Riskat Opakunle     Kwara State Geographic Information Service     Trade Lenda SME Fair     Sherif Shagaya     Adebayo Salami     Akande Idowu Ayoola Muhammed     Aliyu Olatunji Ajanaku     Oloriegbe     Ahmed Alhasssan     Muritala Olarewaju     Colleges Of Education Academic Staff Union     IYA YUSUF     Salihu Jibril Garbi     Okin Biscuit     Yahaya Seriki     Barakat Community Secondary School     Sheikh Hamzat Yusuf Ariyibi     Omotosho     Tunji Arosanyin     Kwara Restoration Project     Tunji Moronfoye     Vasolar     Amosa     Bisi Kristien     Maryam Ado Bayero     Geri-Alimi Split Diamond Interchange     Senate     Omoniyi M. Ayinla     Abdul-Rahoof Bello     Michael Ologundea     Saka Onimago     Tinubu Legacy Forum     Abegunde Goke     Umaru Saro     Abiodun Oyedepo     Mohammed Lawal     Rabiu Kwankwaso     Olatunde Michaels     Saliu Ajibola Ajia     Shuaibu Yaman     Prince Bola Ajibola     JMK Construction Company Limited     Belgore     Lola Ashiru     Just Event Online     Hydro-electric Power Producing Areas Development Commission     Smart School     Afetu Of Alabe     Ibrahim Labaika     Olatunji Abdulmumeen     Oniyangi Kunle Sulaiman     PAACO-PCL Consortium     UTME     Daud Adeshola     Yunus Oniboki     Abdulrosheed Okiki     Opaleke Bukola Iyabo     Baba Issa     NURTW     Saidu Isa     Sidikat Uthman Ajibola     Oyedun Juliana Funke     General Tunde Idiagbon International Airport    

Cloud Tag: What's trending

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

Sarah Alade     Olabanji Orilonishe     Isin     TESCOM     Adamu Attah     Bayo Mohammed Onimode     A.E. Afolabi     Olatunji Bamgbola     Henry Olaosebikan     Abdulsalam Firdaous Amosa     KWACOBPA     Dasuki Belgore     Galland Marcias     Oladimeji Thompson     Umar Danladi Shero     Bayo Lawal     Sheu Ndanusa Usman     Kaiama     Bilikis Oladimeji     Academic Staff Union Of Universities     Oniyangi     Kale Bayero     Muritala Awodun     Convocation Ceremonies     Wahab Femi Agbaje     Yakubu Mohammed Abdullahi     International Aviation College     Radio Kwara     Senior Staff Union Of Colleges Of Education     Shade Omoniyi     Laboratory-to-Product     Fola Consultant     Muyideen Ajani Bello     Yinka Aluko     Balogun Ajikobi     Shehu Alimi Foundation For Peace And Development     General Tunde Idiagbon International Airport     Abdul-Rahoof Bello     Salihu Ajia     Yusuf Amuda Gobir     Danhawa     Share     Mogaji Aare     Atunwa     Alloy Chukwuemeka     Arca Santa     Owu Fall     Ibrahim Mohammed     Lanwa     Suleiman Abubakar     Saheed Popoola     Halidu Danbaba     Jamiu Oyawoye     Abdulrazaq Adebayo     Okin Malt     Kubra Kazum     Yekini Adio     Femi Ogunsola     LABTOP     Akom Construction And Engineering Synergy Ltd     Mumeen Lah     Galadiman Ngeri     Abdulrasheed Na\'Allah     Durosinlohun Kawu     SARS     Olatunji Ayeni     Dagbalodo     Babaloja-General     Tunde Akanbi     Lai Mohammed     Iyiola Oyedepo     ENetSuD     Monthly Sanitation     Sebastine Obasi     Kayode Oyin Zubair     Ajasse-Ipo     Baba Issa Awoye