Politics
Group, Lawmakers Decry Subsidy Removal
Lagos lawmakers and the Association of Professional Bodies of Nigeria (APBN), have reacted to the removal of petrol subsidy by the Federal Government, describing it as ill-timed and a painful pill.
While the lawmakers criticised it as unsuitable for now, the APBN called for the diversification of the country’s economy to cushion the hardship the subsidy removal would cause Nigerians.
Mr Segun Olulade, the Chairman, Lagos State House of Assembly Committee on Information, told The Tide that the removal should be differed in view of the security challenges facing the country.
“The fuel subsidy removal is not suitable at this critical period when Nigeria is facing serious security challenges.
“Some Nigerians are still nursing the wounds of bombings in some parts of the country; the President should take it easy with Nigerians, particularly at this celebration period.
“He should not add sorrow to the joy of many Nigerian celebrating the New Year,’’ he said.
Olulade said the old price regime should still hold sway since, according to him, the National Assembly has yet to ratify it.
“ Before embarking on the removal of the subsidy, necessary things should have been put in place,’’ the assemblyman added.
Another lawmaker, Mr Bolaji Yusuf (Mushin I) advised the government to address security challenges across the country.
“Removing the subsidy without finding solutions to threats to lives and property may not work,’’ he told The Tide.
Yusuf condemned the violence unleashed on the country by an Islamic sect, Boko Haram, saying killing of innocent souls particularly, during a church service on Christmas Day in Mambila, Niger, is callous.
He stressed: “The government should find urgent solutions to the menace caused by Boko Haram at this period and leave the subsidy for now”.
According to him, no foreign investor will stake his money where security of life and property are not guaranteed.
Yusuf, however, appealed to Nigerians not to take the laws into their hands in a bid to avenge the deaths of the innocent souls.
The President of APBN, Mr Segun Ajanlekoko, said the government should be proactive by putting in place measures that would alleviate the sufferings of the ordinary people.
He said the action might cause inflation and increase cost of production and unemployment.
“The Nigerian economy should be diversified. Agriculture should be promoted in all schools, colleges and universities, especially the faculties of agriculture.
“These institutions should be given annual targets of agricultural products production based on the local agricultural climates,” Ajanlekoko said in a statement.
He advised the government to engage unemployed graduates and school leavers in farming at all tiers of government.
“This will not only promote food sufficiency, but also generate revenue through food export,’’ he said.
The Tide source reports that Prof. Akinoso was elected alongside 38 other executive members of the party at the congress held on Saturday.
Other executive members are Dr Abiola Olaonipekun, who emerged as Secretary, Alhaja Latifah Latifu, Women Leader and Mr A. Adeleke, elected as Youth Leader.
It was learnt that the congress, which took place at the Obafemi Awolowo Stadium, Oke Ado in Ibadan, was attended by representatives of the Independent National Electoral Commission (INEC), the Police, other security agencies and prominent members of the party.
The election was supervised by electoral committee members, among whom were Prince Diran Odeyemi, who served as Chairman, Hon. Awoniyi Tolulope, Mr Babatunde Gbadamosi, Queen Stepheine Oyechere, Alhaji Yusuf Abidakun, Mr Olumide Aguda and Dr Phillips Adeniyi, who served as Secretary.
Prof. Akinoso, in his inaugural address, urged members of the party to set aside intra-party differences.
He advised them to concentrate their resources on the promotion of the party, saying, “The primary responsibilities of party executive members are to coordinate party activities, ensure harmony among members, and ensure party victory during general elections.
“Our immediate assignments are to key into INEC released 2027 general election time-tables. As directed by the National Caretaker Committee of PDP, our party e-membership registration starts next week. We must be fully involved and do a membership drive.
“A political party is only relevant and benefits its members if it wins the election. This is our goal. We should set aside intra-party differences; concentrate our resources towards the promotion of the party. We will make necessary consultations and dialogue to actualise this”.
President Tinubu disclosed this during an interfaith breaking of fast with senior journalists and media executives at the Presidential Villa in Abuja on Saturday.
He also disclosed that his administration had opened up on the principles of true federalism to the extent that local governments now get direct allocation from the Federal Government.
“There’s no morning that I ever leave my house without going through the newspapers. It’s an addiction. I read all of you.
“It might not be in full detail, but headline, the one that would hit me and the ones that won’t.
“At the beginning of this administration, I was just a little bit stubborn, looking at opportunities to correct things and make life more easier for the downtrodden.
“We’ve opened up the principle of federalism to the extent that local governments are now getting their money, but how they use it is in your hands. So, don’t bombard me alone,” President Tinubu said.
The ruling party said the ADC had turned criticism of the APC-led administration into its operating manifesto instead of presenting concrete solutions to Nigeria’s economic challenges.
In a statement issued on Saturday by the APC National Publicity Secretary, Mr Felix Morka, the party dismissed the ADC’s interpretation of a report presented at a policy dialogue organised by Agora Policy which suggested that the country’s poverty rate had risen from 49 per cent to 63 per cent.
Mr Morka said the opposition party’s reaction to the report as a “damning verdict” on the government’s economic policies reflected either ignorance of economic realities or deliberate political mischief.
“The African Democratic Congress’ attempt to spin a recent report presented at the Agora Policy dialogue indicating a rise of poverty rate of 63 per cent from 49 per cent as a damning verdict on this administration’s economic policies speaks either to its shocking ignorance of economic policy or its wilful blindness to the justification for, and transformative impacts of, ongoing economic reforms,” he said.
The APC spokesman noted that the report itself recognised the necessity of reforms aimed at correcting long-standing structural distortions in the economy.
According to him, the ADC had failed to present any credible alternative policy direction for Nigerians.
“Clearly, the ADC does not recognise itself as a political party. The ADC has not articulated a single alternative policy position or prescription of benefit to Nigerians. Condemning the APC and its policies has become its operating manifesto,” Mr Morka said.
He explained that major economic decisions taken by President Bola Tinubu, including the removal of fuel subsidy and the unification of multiple foreign exchange windows, were necessary steps to rescue the country’s economy from collapse.
Mr Morka said the subsidy regime had for years placed a heavy burden on public finances, consuming trillions of naira annually while encouraging corruption, fuel smuggling and inefficiencies in the system.
He added that the reforms had helped redirect national resources to key sectors such as infrastructure, healthcare, education and social development.
The APC spokesman acknowledged that economic reforms often come with short-term hardship but stressed that the measures were essential to build a stronger and more resilient economy.
“Economic reform is never cost-free anywhere in the world. The transient hardship experienced by Nigerians was an inevitable cost of reforms meant to build and guarantee a better future for all Nigerians,” he said.
Mr Morka maintained that the country’s economic outlook was already improving, citing recent growth figures and stronger external reserves.
“Our economy has rebounded and is expanding steadily. The country’s Gross Domestic Product grew by 4.4 per cent last year and is projected to expand by 5.5 per cent this fiscal year, with foreign reserves now exceeding $50 billion,” he stated.
He also pointed to government initiatives designed to cushion the effects of economic adjustments on citizens, including cash transfer programmes, student loan schemes and the rollout of compressed natural gas (CNG) initiatives to reduce transportation costs.
Mr Morka reaffirmed that the APC-led administration would remain focused on rebuilding the economy and expanding social investments to support vulnerable Nigerians.