Business
Republican Party Supports Removal Of Fuel Subsidy
The National Chairman of the Republican Party of Nigeria, Mr Mohammed Shittu, says the removal of fuel subsidy will bring more benefits to Nigerians.
Shittu made the observation on Monday in Abuja, while reacting to the hike in the price of petrol, following the removal of subsidy on petroleum products on Sunday by the Federal Government.
“This will bring about a revolution in the sector as we witnessed in the telecommunication sector.
“Nigerians should be ready to make sacrifice because the revolution can only succeed if we are ready to do so,’’ he told newsmen.
Shittu said that Nigerians were enjoying GSM today because of deregulation, adding “we cannot afford to enrich a few people in the name of subsidy’’.
“I want to believe that we must start from somewhere and to get there we must pay a price.
“I believe that the money saved from the removal of subsidy will be invested in other sectors of the economy such as agriculture and education,’’ he said.
Shittu said that investors would not build refineries if there was no deregulation.
‘Investors will not want to build refineries in a situation where the government dictates the price of petroleum products.’’
He advised the government to invest more in agriculture, saying that agriculture had the capacity to provide more jobs than any other sector.
“The fact remains that by the time our agricultural potential is properly harnessed, our economy will be one of the strongest in the world.
“Our dependence on oil has caused the country a lot of problems, so we must learn to diversify our economy,’’ Shittu added.
However, in his reaction, Mr Patrick Emiantor, the National Secretary of the Movement for Democracy and Justice (MDJ), said the government should have provided some cushioning effect before removing subsidy on fuel.
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Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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