Femi Gbajabiamila, the Chief of Staff to President Bola Tinubu, has guaranteed Nigerians that they will soon start reaping the benefits of the removal of fuel subsidies.
Gbajabiamila shared this information after participating in the House of Representatives by-election at Polling Unit 014, Ward 08, Elizabeth Fowler Memorial School, Surulere, Lagos State, on Saturday.
In response to the prevailing economic conditions affecting Nigerians, the Chief of Staff conveyed that the President and his administration are genuinely troubled by the hardships faced by the populace.
However, he emphasized that this is a worldwide concern and requires careful consideration.
According to him, the problems Nigerians confront arise due to the initial lack of certain economic fundamental elements.
- “It is those economic fundamentals that this administration is trying to put in place, including fuel subsidy removal which was a national concession that it must be removed.
- “I assure you that the benefits of subsidy removal will be reaped soon. It’s not immediate but the President knows what he is doing, and at the end of the day, everything will work out fine,” he added.
Addressing the issue of insecurity, the Chief of Staff called on Nigerians to rally behind the President and his administration instead of engaging in blame and negative criticisms.
Gbajabiamila stated that security remained everyone’s concern but assured that the President is deeply concerned and at the forefront of it all.
- “This administration needs the full cooperation of the people and in so doing, we will all defeat these kidnappers and terrorists.
- “Therefore, we need to come together for the better and by so doing, make Nigeria a great nation that we will all be proud of,” he added.
What you should know
- President Bola Tinubu removed the subsidy on fuel on May 29, 2023, during his inauguration speech, adding that the fuel subsidy is “gone.”
- As a result, the price of fuel has increased dramatically, causing an escalating cost of production and logistics as well as power generation for small and medium-scale businesses across the country.
- While the Dangote refinery which commenced production last month is projected to reduce Nigeria’s dependence on imported refined crude oil, there are questions on whether the refinery will affect the price of the commodity.
- Meanwhile, the President assured Nigerians that the money saved from subsidy removal will now be allocated to the health and education sector.
- With an inflation rate of 28.92%, Nigerians battle a high cost of living, rising food prices as well as a hostile business environment, resulting in the decline of employment opportunities across the country.
