According to the All Progressives Congress Presidential Campaign Council, Asiwaju Bola Tinubu’s upcoming administration will reduce fuel subsidies in line with President Muhammadu Buhari’s agenda.
The Nigeria Labour Congress (NLC), on the other hand, has vowed to resist the plan to eliminate the subsidy, stating that the refineries must be operating before the subsidy can be removed.
The Nigerian National Petroleum Corporation Limited has reported that the country spends over N400 billion per month on petroleum subsidies, which it argues is mostly unsustainable.
According to Festus Keyamo, Minister of State for Labour and Employment, the president-elect will decide when the fuel subsidy would be phased out.
Keyamo, the Chief Spokesman for the Tinubu-Shettima campaign, advised that the former Lagos governor should be left alone to determine the day of his execution.
He remarked that
That is one of the policies for which we ran a campaign. I can’t tell you exactly when it will be finished. Nonetheless, the president-elect has promised to eliminate subsidies. Not just him. Almost all of the main presidential candidates took the same stance.
The FG chose June as the cutoff date for subsidies because the budget only allocated for it up to that point. That was the explanation. Nonetheless, the new government will make its decision when it is ready. Of course, you are aware that when a new government gains power, the country is at its disposal. Absolutely, I believe that government exists on a scale. Yet, not all rules are on a scale.
Keyami, a Senior Advocate of Nigeria, disclosed that Tinubu’s administration would implement preparations to mitigate the impact of the subsidy’s removal.
He remarked that
I can guarantee you that, being the man he is, the president-elect will not do so without equivalent palliative (actions) for the public. That I can tell you with certainty.
