Tag: Subsidy Removal

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Fuel Price: Subsidy Removal Now Looking Like A Scam – CUPP Slams Tinubu Govt

The Coalition of United Political Parties (CUPP) has reacted to the new increase in price of petrol.
CUPP while slamming President Bola Tinubu‘s government, said the subsidy removal is now looking like a scam.
The price of petrol shot up from N540 to N617 per litre on Tuesday following an announcement by the federal government through the Nigerian National Petroleum Company (NNPC) Limited.
The NNPCL Group Chief Executive Officer, Mele Kyari, in a subsequent statement, attributed the recent rise in petrol pump prices to market forces.
Kyari offered this explanation shortly after a meeting with Vice President Kashim Shettima at the Aso Villa.
Reacting, however, to the hardship brought upon Nigerians as a result of the latest development, CUPP said fuel subsidy removal by President Tinubu’s administration is now looking like a scam to the citizens.
CUPP criticized the ‘crazy and unending fuel price hikes’ which, according to it is driving inflation to the rooftops and making life increasingly unbearable for Nigerians generally.
In a press release signed by the group’s national co-spokesperson, Mark Adebayo, on Wednesday, CUPP frowned at the sudden increase barely a month after the fuel price was hiked over 300% on May 29th this year.
The press release reads: “It has come to the attention of the CUPP the sudden and surreptitious increase yet again in the pump prices of petrol by NNPCL which has immediately started having negative domino effects on all other commodities and services in the country and further drowning most Nigerians into excruciating poverty and unprecedented economic woes.
 
“This subsidy removal scheme is increasingly looking like a scam to cage Nigerians inside a preprogrammed regime of socioeconomic slavery dictated by leadership insensitivity. This is not about opposition Parties. The opposition actually felt that the president had something better to offer Nigerians after the subsidy removal but what we are witnessing now is a double negative impact on Nigerians in every way imaginable.
 
“The way NNPCL is behaving now suggests that there is a hidden agenda of crazy and unending fuel price hikes that will be driving inflation to the rooftops and making life increasingly unbearable for Nigerians generally.
 
“No purposeful government would recklessly abandon its citizens to the unpredictable and inhumane market forces that are essentially atrocious and callous in nature without a robust intervention to protect the citizens. Such a policy is not only antisocial but also outrageously iniquitous. Nigerians have shown enough understanding of the subsidy removal; this administration should not push them to the wall and thereby instigate unmanageable mass crises that could further jeopardize the life of the common man.
 
“President Bola Ahmed Tinubu must immediately show himself as a compassionate leader by ensuring that the NNPCL is not hijacked by the same forces that stole the fuel subsidy monies leading to its removal and finding a backdoor to continue claiming the subsidy by other means and making Nigerians bear the brunt of their economic terrorism. We demand the immediate removal of the NNPCL GMD, Mele Kyari, to allow for a breath of fresh air in the organization and for his tenure to be forensically investigated and all discovered infractions to be comprehensively prosecuted before the NNPCL is turned into the terrorist arm of the economic cabal.”
CUPP urged the federal government to, without further hesitation, do something to reverse the recent fuel price hikes and stop any future plans to clandestinely increase the pump prices with the predictable value of increasing the sufferings of Nigerians.
 
“When will Nigerians be free from the wickedness of their governments?”, CUPP asked.
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Subsidy Removal: Daily Fuel Consumption Drops From 66m To 40m

Vanguard reports that the daily consumption of petrol by Nigerians has reduced from 65 million to 40 million following the removal of fuel subsidy as announced by President Bola Tinubu on May 29, 2023.

This was revealed by Abia State Governor, Alex Otti, after the inauguration of the National Economic Council (NEC) on Thursday, chaired by Vice President Kashim Shettima at the Council Chamber, Presidential Villa, Abuja.

Earlier, Tinubu addressed the NEC saying he would accept collaboration in governance to address the economy and improve the welfare of the Nigerian people, adding that he would not be an excuse for failure.

Bala Mohammed, the governor of Bauchi State said the government deliberated and looked at all the issues on subsidy removal, the challenges and problems holistically and set up a small committee of the council to review and come up with a term of reference that will help to alleviate the problem of workers and other vulnerable groups.

According to him, the committee is composed of Governors of Kebbi state, as Chairman, Anambra representing the South East geopolitical zone. Benue North Central, Kaduna Northwest, Bauchi, representing the northeast, Cross River, South-South and Oyo state Southwest.

Speaking after the meeting, Otti said, “As part of the inaugural national economic council meeting today, the major focus was on the removal of petroleum subsidy and implied the removal of subsidy on foreign exchange, which has led to some convergence of some sort.

“The impact of these two actions definitely is increased prices. And as a way to solve the problem and reduce the shock, a presentation was made by the National Automotive Design and Development Council on the great things that are happening in the automotive industry.

“It was that about six states in the country, including Lagos, Ogun, Anambra, Enugu, Akwa Ibom, Kaduna and Kano that have benefited from domestic production of vehicles or assembling of vehicles by Nigerian companies operating in Nigeria. And these companies include INNOSON, Maikano, Dangote Peugeot, Peugeot Automobile of Nigeria, Stallion Hyundai, Honda, Elizade/Toyota, Coscharis and Ford, Kojo Motors, Jet Systems motors.”

While he said Tinubu’s administration should be commended for its efforts to remove subsidy and still help create palliatives, Otti disclosed that the consumption of fuel has reduced in the country.

“But we must salute the courage of the current government to bite the bullet and remove it. Initially, it had reduced the consumption from about 66, 67 million litres a day to just about 40 million. And as time goes on, the consumption will continue to go down.

“We know there are implications, particularly for the poorest of the poor. And that is why this government is seriously looking at palliatives to at least deal with the shock that the poor of our society goes through,“ Otti said.

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Susidy Removal: Why We Did Not Embark On Nationwide Strike

The Nigeria Labour Congress, NLC has explained why it did not embark on an industrial action scheduled for Wednesday, June 7, over the removal of fuel subsidy.

It revealed that it decided to call off its strike over the removal of fuel subsidy partly in obedience to an order of the National Industrial Court (NICN).

In a communique issued after an emergency National Executive Council meeting on Tuesday, June 6, the NLC faulted the court order, saying it amounted to an abuse of ex-parte injunction.

The group directed all affiliates and state councils to suspend mobilisation until the outcome of the negotiations.

The statement read;

“An emergency National Executive Council (NEC) of the Congress which was called to discuss the outcome of the Dialogue between the NLC and the Federal Government on the petroleum products price hike after extensive deliberation observed that:

“The previous NEC-in-session had ordered a nationwide withdrawal of services and mass protest over the petroleum price hike by the federal government;

“Whereas the Federal Government was in breach of the 2023 Appropriation Act, the NLC will not encourage lawlessness on its part;

“Taking into account that the Federal Government has procured a court injunction restraining Congress from proceeding with the proposed nationwide strike as the NEC-in-session had ordered to begin, Wednesday, the 7th of June, 2023;

“Recognising the willingness of government for continuous engagement through dialogue and to offer reasonable palliatives in due course to cushion the effect of its policies and some levels of understanding reached;

“Considering the mood of the socio-polity last elections and the need to pursue national stability;

“Consequently, the NEC-in-session resolved as follows: to commend and applaud the diligence of the Congress’ leadership in carrying out the assignment given to it by NEC.

“To demonstrate to the Federal Government the need to comply with the laws of the land especially as it concerns obedience to the rulings of the courts and their brazen disregard to the 2023 Appropriation Act

“To, therefore, support and accept the decision of the leadership of Congress to suspend the proposed strike action in compliance with the flawed rulings of the NIC and also allow negotiations to flow freely and enable final agreement during or after the 19th June 2023 negotiation round with the federal government

“To, however, register in strongest terms its disgust and disapproval with the ruling of the National Industrial Court (NIC) for its continuous weaponisation of the instrument of ex-parte injunction in favour of government against the interests of Nigerian workers in defiance of the position of the Supreme Court on the use of this instrument.

“All Affiliates and State Councils of Congress are hereby directed to suspend further action and mobilisation until the outcome of the final negotiations.

“To commend all affiliates and state councils on their robust mobilisation towards a successful nationwide strike action and to also remain vigilant in case there is a need to continue.”