How Tinubu Plans To Cushion The Harsh Effect Of Fuel Subsidy Removal
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News - June 8, 2023

How Tinubu Plans To Cushion The Effect Of Fuel Subsidy Removal

President Bola Tinubu has instructed the National Economic Council (NEC) to come up with inputs on palliatives and review the minimum wage as part of measures to cushion the pain of subsidy removal.

Tinubu’s instruction comes as Nigerians grapple with the aftershocks of the fuel subsidy removal. He made this statement during a meeting with members of the Nigeria Governors’ Forum, led by its Chairman, Governor AbdulRahman AbdulRazaq of Kwara State in Abuja.

Addressing the governors, Tinubu said, “We can see the effects of poverty on the faces of our people. Poverty is not hereditary, it is from society. Our position is to eliminate poverty. Set aside partisan politics, we are here to deliberate about Nigeria and nation-building. We have managed ourselves very well to have a democracy. We have campaigned and arrived at our present destination. We must work for our people.”

Assuring that he will maintain an open-door policy, Tinubu said, “How do we address the unacceptable level of poverty? How much are we investing in education, which is the only tool against poverty? I am ready to collaborate with you.”

Nigeria’s transition from fossil fuel to renewable energy

Briefing State House correspondents after the meeting, the Ogun State Governor, Dapo Abiodun said, “In completeness, whatever it is we do today, be it minimum wage increase, be it transport allowance, be it the provision of any form of intervention, are only stopgaps. What we need to begin to look at is an energy transition for the whole country, where we have to appreciate the fact that we can no longer power our vehicles with either diesel or petrol at the current prices.”

Also, Dapo said, “In some other countries, their vehicles are running on either CNG or electricity. These will be what will be sustainable that will allow us to transport people, goods, and services at prices that are reasonable. That is the kind of thing that we are looking at, the kind of discussions that we’re having with Mr President, and the kind of approach that this administration is looking at regarding sustainability.”

The NEC comprises the Vice President,  36 state governors, the Central Bank of Nigeria Governor, and other co-opted government officials.

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