Subsidy: Group advocates for N50,000 upward - NEWS FRONTIER DAILY


Tuesday, July 18, 2023

Subsidy: Group advocates for N50,000 upward

....says FG's N8,000 palliative, failed policy

A group, the Nigerian Ethnic Nationalities Youth Leaders Council, NENYLC, has described the planned Federal Government N8,000 palliative to cushion the effect of the removal of fuel subsidy on Nigerians as a failed policy.

The group, in a statement signed and made available to newsmen  by the President-General, Comrade Terry Obieh; Vice-President, Comrade Balarabe Rufai; Secretary-General, Aare Oladotun Hassan, who is also the President, Yoruba Council Worldwide; National Publicity-Secretary, Comrade Emmanuel Zopmal; National President, Ohaneze Ndigbo Youth Council Worldwide, Mazi Okwu Nnabuike and the National Treasurer, Hamisu Dass, urged the Federal Government to consider an upward review of the N8,000 amount meant for the subsidy, which it said, would not cushion the hardships of the poor targeted Nigerians. 

The statement read: "We want to express our sincere concern about the recent President Bola Ahmed Tinubu led Federal Government's intended fuel subsidy palliative to 12 million households."

"While we continue to support any  government good policy, we will also disagree with the government on policies that do not have direct bearing on the wellbeing of the masses."

"It is our firm position that the Federal Government must consider an upward review of the N8,000 amount meant for the subsidy, which will not cushion the hardships of the poor targeted poor Nigerians."

"We call on the Federal Government to increase the amount to N50,000, which , on average, can provide for the basic needs of households under the current economic situation."

"The government has now allowed marketers to determine prices of pump price. As of today, the fuel pump is N617 per litre."

"If the Federal Government will not take necessary steps to alleviate the harsh conditions of the suffering masses, we may be forced to mobilize ethnic nationality youths in Nigeria to make the Federal Government do the necessary."

As a way forward, the group suggested that Federal Government must checkmate the nefarious activities of petroleum marketers who had always sabotaged government efforts.

"Whereas we support the government completely on subsidy removal, we advise that it should be handled with utmost caution. We support the government because the nation can not continue to subsidise fraud."

"It is unfortunate that the outgone administration laid such a landmine, but with a rightful mindset and focused leadership, we are certain that the present government will navigate over it.'

"What we expect the government to do at this time is to further engage major stakeholders, including the youths, civil society organizations, religious and traditional leaders who are closer to the people in order to ensure accurate targeting of the beneficiaries of the policy." 

"We strongly advise that the government should set up a broad-based investigative committee to look into the subsidy fraud over the years."

"The government should also ask the marketers to have public emphathy by not hiking the pump price of the petroleum product and deal with any marketer found extorting the masses."

"The government must also checkmate the nefarious activities of petroleum marketers who had always sabotaged government efforts. They will do everything to ensure that the policy fails, thereby continuing to milk the nation dry."

"A former Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi has told Nigerians that subsidy was meant to cover only 30 million barrels per day, but unfortunately, on the paper, it is 70 million barrels per day. Such fraudulent acts must be investigated."

"These are the same people who have made sure that none of the refineries will work. It is high time the government put all measures on the ground to stop them from sabotaging the economy." 

"We also urge the federal government to channel part of the money that will be saved from the subsidy withdrawal into reviving the three government refineries and ensure that railway system is fully revived so that it will ease distribution of petroleum products across the country. This will help further in the reduction of pump price."

"In addition, the government should incentivize licences to individuals and corporate organisations who may wish to build refineries."

"Finally, we make bold to say that the removal of subsidy is a good decision for the overall interest of the country, and the government should ensure proper implementation and management of funds earlier meant for the fuel subsidy," the group urged.

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