Oshiomhole: FG Has a Solution for the Impact of Subsidy Removal

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Adams Oshiomhole, a former governor of Edo State, has stated that the Federal Government, led by President Bola Tinubu, is working on an urgent remedy to the discomfort caused by the elimination of gasoline subsidies.

Oshiomhole claimed on Channels Television’s Sunday Politics that President Bola Tinubu realizes the impact of the gasoline subsidy withdrawal on Nigerians and is determined to take immediate action to mitigate the impact.

“This president recognizes that the withdrawal effect is already here, that people are experiencing some level of discomfort, and that an immediate solution is required.”

“Now, that immediate solution is what we discussed, and the fact that we are meeting again on Tuesday shows that clearly, we recognize that this is not one of those things you want to buy time because it has a real negative impact, particularly on the most vulnerable group.”

“However, we have a solution because you are going to save, so take from that savings or even borrow.” So, whatever it is, you can leverage some money and enhance wages to cushion the cost of living, I believe it is legitimate, I believe it is possible, and it is not something you want to spend two to three months discussing,” Oshiomhole added.

The former president of the Nigeria Labour Congress (NUC) attended a meeting between the Federal Government and the Trade Union Congress (TUC) on Sunday, and he claimed the discussion was fruitful, adding that the government will consider all of the TUC’s demands and respond on Tuesday.

He stated that if Nigeria saves approximately N7 trillion by eliminating subsidies, the Federal Government can take a portion of that money and invest it in the wage sector “because those savings will go into the federation account, which will be distributed among the three tiers of government, and so every tier of government will have more money and should be able to meet the consequential increase in wages.”

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