Subsidy Removal: Odunowo applauds Tinubu over palliatives, review of cash transfer policy
An All Progressives Congress ( APC) chieftain and the National Chairman of the Asiwaju Ahmed Tinubu Support Group ( AATSG), Otunba Yomi Odunowo, has commended the Federal Government’s recently rolled – out palliative measures and review of the cash transfer policy to cushion the effects of the petrol subsidy removal on the people.
Otunba Odunowo, who made these remarks in a statement signed by his Special Adviser on Media, Mr. Seyi Shodipo, particularly appreciated President Tinubu’s approval for the immediate release of 225,000 metric tonnes of fertilisers and 200,000 metric tonnes of grains from strategic reserves to approximately 50 million farmers and households in all 36 states and the FCT.
He assured Nigerians that the Tinubu led administration would ensure the judicious utilisation of the N500 billion approved by the National Assembly to cushion the pains occasioned by the removal of subsidy as beneficiaries would be Nigerians, irrespective of ethnic, religious or political affiliations.
The Ogun State APC chieftain noted that his trust in President Tinubu as a listening leader whose well – being of the people was topmost in his heart had not been misplaced as clearly demonstrated with his directives on the immediate review of the proposed N8,000 payment to 12 million households in deference to the views expressed by Nigerians against the policy.
Otunba Odunowo noted that the government’s plans to support cultivation of 500,000 hectares of farmland and all – year round farming practice, investment of N50 billion each to cultivate 150,000 hectares of rice and maize, another N50 billion for the cultivation of 100,000 hectares of wheat and cassava, N100 billion on the procurement of 3,000 units of 20 – seater CNG fuelled buses across the states and local governments for mass transit at a much affordable rate would, no doubt, cushion the effects of the subsidy removal policy.
” President Tinubu’s recent agreement with the labour unions to introduce a new national minimum wage for workers and provision of buses for higher education students and removal of all restrictions on the students’ loans would definitely impact positively on the welfare and living condition of the people”, he said.
Otunba Odunowo equally expressed his appreciation for President Tinubu’s approval for the establishment of Infrastructure Support Fund (ISF) for the 36 states of the federation as part of measures to cushion the effects of the subsidy removal on the people
He, however, explained that the new Infrastructure Fund would enable states to intervene and invest in the critical areas of transportation, including farm to market road improvements, agriculture, encompassing livestock and ranching solutions, health, with a focus on basic healthcare, education, especially basic education, power and water resources, that would improve economic competitiveness, create jobs and deliver economic prosperity for Nigerians.
The AATSG National Chairman further stressed that the government’s decision to save a portion of the monthly distributable proceeds to minimize the impact of the increased revenue – occasioned by the subsidy removal and exchange rate unification on money supply, as well as inflation and the exchange rate, were a welcome development.
He pleaded with Nigerians to have implicit confidence in President Tinubu’s administration, which recently ensured that out of the June 2023 distributed revenue of N1.9 trillion, only N907 billion was distributed among the three tiers of government, while N790 billion was saved and the rest used for statutory deductions, stressing that these savings would complement the efforts of the Infrastructure Support Fund (ISF) and other existing and planned fiscal measures as they were aimed at ensuring that the subsidy removal translates into tangible improvements in the lives and living standards of Nigerians.
Otunba Odunowo, who eulogised President Tinubu for his swift response to issues bothering on the welfare and security of the people since his assumption of office, however, urged the people to be patient with the new administration’s efforts at repositioning the nation’s battered economy as the released palliative measures would, no doubt, have far reaching impacts on every household in the country.
Meanwhile, the APC chieftain reiterated his earlier advocacy for local government autonomy, the need for INEC to take over the conduct of local government elections, extention of local government chairmen’s tenure to a 4 – year term and the propriety of conducting the Presidential, Governorship and Local Government Chairmanship elections same day, while Councilorship, House of Assembly and National Assembly elections take place on a separate day for continuity and effective governance.
