FG Has Solution For Impact Of Subsidy Removal – Oshiomhole

Posted by Samson Kankan Featured, Latest Headlines, News Across Nigeria Monday, June 5th, 2023

(AFRICAN EXAMINER) – A former governor of Edo State, Adams Oshiomhole, has expressed confidence that issues arising from the removal of fuel subsidy will be quickly resolved between the Federal Government and the organized labour.

Oshiomhole, who was a guest on Channels Television’s Sunday Politics, said that President Bola Tinubu recognizes the impact the withdrawal of fuel subsidy is having on Nigerians and is determined to take immediate action to cushion it.

“This president recognizes that the effect of the withdrawal is already here, people are already going through some level of discomfort and therefore there has to be an immediate solution to it.

“Now that immediate solution is what we discussed and the fact that we are meeting on Tuesday again shows that clearly, we realize that this is not one of those things you want to buy time because it has a real negative impact, particularly on the most vulnerable group.

“But we have a solution to it because you are going to make savings, so take from that savings or even if it is borrowing. So, whatever it is, you can leverage some revenue and improve wages to cushion the cost of living, I think it is legitimate, I think it is doable, it is not something that you want to spend two to three months negotiating,” Oshiomhole said.

The former Nigeria Labour Congress (NUC) president was part of a meeting between the Federal Government and the Trade Union Congress (TUC) on Sunday and he said the meeting was productive, adding that the government will consider all the demands by the TUC and revert on Tuesday.

He said that if Nigeria can save about N7 trillion by ending subsidy, the Federal Government can take part of that money and put in the wage sector “because those savings will go into the federation account which will be distributed among the three tiers of government and so every tier of government will have more money and should be able to meet the consequential increase in wages”.