The South East Coalition for Good Governance, SECG, has described the fuel subsidy removal by President Bola Tinubu, ‘as hasty and ill timed which will certainly inflict misery and suffering on poor Nigerians‘
The group noted that the action will unsettle the present administration for a long period.
President Tinubu, in his inaugural speech, on May 29, at Eagle Square, Abuja, said his administration will not continue with the fuel subsidy regime.
“We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions” Tinubu said in his address.
Shortly after his pronouncement, long queues returned to fuel stations and prices of petrol increased across the country.
Speaking to INNONEWS in Enugu, SECG President, Emmanuel Okwu, said President Tinubu should have engaged key stakeholders, such as the Labour union, and other major players in the petroleum industry before announcing the removal of the subsidy regime.
“President Tinubu acted in a hurry. On his first day in office, he should have used his speech to inspire hope and confidence on Nigerians and delay the removal of the fuel subsidy regime after consultations with stakeholders.
“This decision at this time is bad for his government which is barely new.
“You don’t start governance with a policy that will inflict pain on the people. Nigerians will not see Tinubu and his administration in a positive light for a long period.
“Even if the Buhari administration had not made provision for subsidy after July 2023, Tinubu should have pondered and consulted before he announced the removal of fuel subsidy. It was a hasty decision and it is going to unsettle this government for a long time” he said.