President Bola Tinubu has instructed the National Economic Council (NEC), headed by Vice President Kashim Shettima, to start the process of providing palliatives in order to lessen the effects of subsidy reduction on Nigerians.
Tinubu issued the order at a meeting with several significant oil marketers on Wednesday at the State House in Abuja, led by the governor of Ogun State, Dapo Abiodun.
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The President declared the elimination of the petrol subsidy at his inaugural address on May 29 at Eagle Square in Abuja.
The Nigeria National Petroleum Company Limited changed the pump price to reflect the new information after the announcement.
In response to the development, the Organised Labour decided to start a statewide walkout on Wednesday, but following a discussion, they decided against it.
While speaking to correspondents after the meeting, Governor Abiodun stated that the marketers expressed solidarity with the President for removing the N4trn subsidy burden, a move that can enhance the Federation Account Allocation Committee (FAAC) allocation to states.
The group of marketers subsequently announced their intention to donate 50 to 100, fifty-seater mass transit buses that would run on CNG, costing N100m each and N10bn cumulatively, to cushion the effect of the removal within the next 30 days.
Also, the governors, who took turns to speak when the President hosted members of the Nigerian Governors’ Forum (NGF), led by its chairman, AbdulRahman AbdulRazaq of Kwara State, at the State House, expressed happiness with the President’s subsidy-removal decision, all-inclusive leadership and statesmanship.
President Tinubu had earlier called on the governors to collaborate with the Federal Government in tackling the menace of poverty in the country, saying the level of impoverishment was unacceptable.
The President advised the political leaders to downplay their differences and jointly focus on alleviating the sufferings and pains of the people.
“We can see the effects of poverty on the faces of our people. Poverty is not hereditary, it is from the society. Our position is to eliminate poverty. Set aside partisan politics, we are here to deliberate about Nigeria and nation-building,’’ he said.
President Tinubu stated that the nation should be seen as one big family.
“We are a family occupying one house, and sleeping in different rooms. If we see it that way and push forward, we will get our people out of poverty. A determined mind is a fertile ground for delivering on results,’’ he added.
