Economy
‘A Move In The Right Direction’ — Mixed Reactions Continue To Trail Fuel Subsidy Removal
By Judith Ukoh
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It’s been one week since President Tinubu’s declaration on fuel subsidy removal triggered a hike in fuel price.
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Since that time, some Nigerians have bemoaned the cruel impact on the cost of living, while others have backed the move.
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The top labour unions in the country are threatening a nationwide strike as early as this week.
Eko Hot Blog reports that mixed reactions have continued to trail President Bola Tinubu’s declaration that “fuel subsidy is gone.”
The president made the declaration while delivering his inaugural address last Monday, May 29, 2023.
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Long queues immediately surfaced at fuel stations after the speech, causing more than a 100% hike in petrol price.
While many Nigerians are lamenting the hardship that has been caused by the fuel price hike, some argue that subsidy is a necessary evil that has to go.
For Omoba Adeyinka Oyediran, who is the Lagos state Chairman of the National Industrial Safety Council of Nigeria, the removal of fuel subsidy is long overdue and a step in the right direction towards ensuring a prosperous nation.
Omoba Adeyinka Oyediran
Omoba Adeyinka spoke with Eko Hot Blog on the sideline of the unveiling of the ‘Emilokan’ fabric, which was held on the 3rd of June, 2023 at the Radisson Blue Hotel, Ikeja, Lagos.
He told Eko Hot Blog that the fuel subsidy removal would ensure the circulation of wealth, curb corruption, stop smuggling, and ensure healthy appropriation of funds.
According to him, there was no gain in subsidising fuel when paramount sectors like education and health were not subsidised.
Adeyinka emphasised that the removal would encourage smart moves such as companies and schools making use of the bus system to transport workers and students respectively rather than individual journeys to the workplace and schools, and thus, reduce fuel consumption.
He further encouraged Nigerians to support the new administration’s policies and quest to build a nation that ensures the well-being of every citizen.
Meanwhile, the Nigerian Labour Congress (NLC) is set to embark on a strike from Wednesday over the fuel subsidy removal.
FURTHER READING
The NLC, which boycotted labour leaders’ meeting with the Federal Government on Sunday, has demanded a return to the old fuel price. The Trade Union Congress (TUC) attended the meeting which is expected to resume on Tuesday.
Judith Ukoh is a reporter with Eko Hot Blog.
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