Subsidy Removal in a sentence

A coalition of civil society groups have set aside Monday, June 12, to protest the alleged fraud behind petrol subsidy and the hike in fuel prices since the subsidy removal by President Bola Ahmed Tinubu.

Come to think of it, as critical as fuel subsidy removal is to the turnaround of the economy, successive governments have made brick walls in their attempts to end the subsidy regime.

Ologunde, however, said that the fuel subsidy removal had no pronounced effect on the commodity, noting that ”prices had gone up before the fuel subsidy was removed”.

As a way of cushioning the effects of fuel subsidy removal on citizens, the Federal Government has commenced installation of solar systems in rural communities in Lagos.

As Nigerians, we must support fuel subsidy removal AND the complete privatization of the power sector.

Despite the country’s debt burden and lingering confusion over fuel subsidy removal, Labour unions, yesterday, demanded better welfare, just as the outgoing and incoming governments sought understanding of the workers on action plans.

Following fuel subsidy removal, Governor Godwin Obaseki of Edo State has reduced the number of work days for civil and public servants from five days to three days a week.

Following the declaration of subsidy removal by the Tinubu administration on May 29, 2023, there has been a hike in the cost of living.

General Secretary of NLC, Emma Ugboaja, in a chat in Lagos yesterday, said nobody should drag Nigerian masses and workers into any increase in fuel price in the name of subsidy removal, insisting that organized labour will not accept it.

He gave an update on the 10 luxury buses the state government recently acquired as fuel subsidy removal palliative intervention, saying the buses would soon be deployed.

He listed such as issues as state police, devolution of power, subsidy removal among others.

He said, ” The reality of our post-subsidy removal adjustment, in which you have played quite a critical role to stabilize the nation, isn’t lost to us.

However, critics of the fuel subsidy removal argue that it will further weaken the purchasing power of Nigerians and impoverish more citizens in a country where almost half of the population is poor.

In a welcome address, the Commissioner for Transport, Grace Ekiotene, appreciated the governor for inaugurating the scheme to cushion the effect of the hardship faced by Bayelsans as a result of the subsidy removal.

It noted that subsidy removal and exchange rate unification policy towards the end of the first half left the economy on the brink of uncertainty, caused a ripple effect that further eroded investors’ confidence.

Labour, Trade unions and some oil and gas industry experts have not hidden their disapproval of the fuel subsidy removal because it would hurt Nigerians by shooting up inflation.

Malam Musa Abdullahi, the leader of Nigerian taxi owners in Diffa, also lamented that the subsidy removal in Nigeria jerked up fuel price in Niger, forcing many people to park their vehicles.

President Bola Ahmed Tinubu (BAT) declared a state of emergency on food security on July 14, 2023, to cushion the effects of the subsidy removal.

President Tinubu, who said he was attuned to the hardships that have come with the fuel subsidy removal, however, said he had a heart that feels and eyes that see.

Rivers State governor, Siminalayi Fubara, on Tuesday, rolled out passenger buses for free intra-state transportation for people as part of his administration’s interventions to cushion the high cost of living occassioned by fuel subsidy removal.