Amid the uncertainties surrounding the savings from fuel subsidy removal and palliative to cushion its effects on Nigerians, the Centre for Transparency Advocacy, CTA, has told President Bola Ahmed Tinubu’s administration what to do in the short-term.
Faith Nwadishi, the Executive Director of CTA, disclosed this on Tuesday in an interview
Recall that Nigerians have continued to express concerns over the uncertainties surrounding the savings from fuel subsidy removal and plans by the government to cushion the effect.
Reacting to the hardship and pains suffered by Nigerians, Nwadishi stated that Tinubu must immediately commence plans to unveil details of the savings from fuel subsidy removal to Nigerians for transparency and accountability.
According to her, Tinubu’s administration should initiate steps to provide significant palliatives for Nigerians to cushion the effect of fuel subsidy removal, which led to hikes in transportation, goods and services.
“Transparency builds trust and helps citizens understand how the savings are being utilized for their benefit.
“In light of the impact on the cost of living, it is indeed important for the government to consider implementing palliative measures. Palliatives can help cushion the effects of subsidy removal on Nigerians, particularly vulnerable groups. The World Bank and IMF’s insistence on providing palliatives reflects a common understanding of the importance of protecting the well-being of citizens during such transitions.
“To address this situation, the government could consider the following steps: Publish a detailed breakdown of the savings from fuel subsidy removal, ensuring transparency and accountability;
“Develop a comprehensive palliative plan that targets the most vulnerable segments of society, including low-income earners, elderly citizens, women and persons with disabilities; Implement short-term measures such as subsidized energy, food, transportation, education and healthcare support to provide immediate relief; Engage with civil society organizations, experts, and representatives of vulnerable groups to gather input and ensure that palliative measures are well-targeted and effective; Communicate clearly with the public, explaining the rationale behind the subsidy removal, the intended benefits, and the government’s commitment to addressing the challenges faced by Nigerians.
“By taking prompt action, demonstrating transparency, and implementing effective palliative measures, the government can address the concerns raised and work towards mitigating the impact of fuel subsidy removal on the lives of Nigerians”, she stated.
In February 2023, the Group Chief Executive of Nigerian National Petroleum Corporation Limited, Mele Kyari, said the country would save N400 billion monthly from fuel subsidy removal.
To this end, during his inaugural speech as president, Tinubu announced fuel subsidy removal.