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Tinubu Proposes Immediate Solution to Subsidy Removal Effects, Assures Prompt Action – Oshiomhole

Tinubu Proposes Immediate Solution to Subsidy Removal Effects, Assures Prompt Action - Oshiomhole

Posted: June 5, 2023 at 4:28 am   /   by   /   comments (0)

In a recent interview with Channels Television’s Sunday Politics, former governor of Edo State, Adams Oshiomhole, lauded President Bola Tinubu for his proposed immediate solution to mitigate the far-reaching consequences of fuel subsidy removal. Oshiomhole expressed confidence that the Nigerian government and organized labor will swiftly resolve the challenges stemming from this policy shift.

Recognizing the adverse impact of the withdrawal of fuel subsidy on the Nigerian populace, Tinubu is resolute in taking prompt action to alleviate their hardships. Oshiomhole emphasized that both parties are keen on reaching a resolution at the earliest, considering the tangible discomfort already being experienced, especially by the most vulnerable segments of society.

Oshiomhole explained, “President Tinubu acknowledges that the effects of subsidy withdrawal are already being felt, and therefore, an immediate solution must be implemented. We have engaged in fruitful discussions on this matter, and the fact that we are reconvening on Tuesday underscores our commitment to promptly address this issue. We understand that this is not a situation that should be prolonged as it severely impacts the most vulnerable groups.”

Addressing the potential funding for this solution, Oshiomhole proposed leveraging the savings achieved through subsidy removal. By allocating a portion of the estimated N7 trillion saved to the wage sector, the Federal Government can effectively cushion the rising cost of living. He further highlighted that the funds generated would be channeled into the federation account, benefiting all three tiers of government and enabling them to address the consequent wage increase without protracted negotiations.

In a recent productive meeting between the Federal Government and the Trade Union Congress (TUC), Oshiomhole expressed optimism that the government would carefully consider all the demands presented by the TUC and provide a response on Tuesday.

The proposal put forth by Tinubu offers a promising avenue to mitigate the impact of subsidy removal, as it seeks to address the concerns of Nigerian citizens while ensuring the stability of the economy. With a focus on prompt action, it demonstrates a commitment to finding workable solutions that prioritize the welfare of the people.

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