Adams Oshiomhole, the representative of the Edo North Senatorial District, remarked that President Bola Tinubu inherited a terrible economic situation from the previous administration. Oshiomhole shared this viewpoint during an interview with reporters shortly after a private meeting with Vice President Senator Kashim Shettima, held at the Presidential Villa in Abuja on Tuesday.
The former Edo state governor observed that certain decisions made by President Tinubu’s administration marked the initial steps toward revitalizing the economy. He commended President Tinubu for demonstrating courage and determination in addressing corruption within the subsidy system and the Central Bank of Nigeria (CBN). Oshiomhole urged Nigerians to exercise patience during this process.
Meanwhile, Oshiomhole expressed confidence that the issues arising from the elimination of fuel subsidy would be promptly resolved between the Federal Government and organized labor. He conveyed that President Tinubu acknowledged the adverse effects of the subsidy withdrawal on Nigerians and was committed to taking swift action to alleviate its impact.
He stated, “President Tinubu acknowledges that the consequences of the subsidy removal are already being felt, causing discomfort among the populace. Hence, an immediate solution is imperative.” Oshiomhole elaborated that the discussed solution was a matter of urgency, given the negative repercussions, especially on the most vulnerable citizens. He emphasized that this issue shouldn’t be prolonged in negotiation, as a viable solution can be found through savings or potential revenue generation.
Referring to a prior meeting between the Federal Government and the Trade Union Congress (TUC) on Sunday, Oshiomhole mentioned that the discussions were fruitful. He conveyed that the government would carefully consider all of TUC’s demands and provide a response by Tuesday.
Furthermore, Oshiomhole proposed that if Nigeria could save around N7 trillion by ending the subsidy, a portion of that money could be allocated to the wage sector. This allocation could be achieved by channeling the savings into the federation account, which would subsequently benefit all levels of government and allow them to accommodate the resulting wage increase.
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