Nigeria to save N5.4trn from subsidy removal in 2024 – Abiodun
…Urges constructive engagement with Govt
Adekunle Omobolaji
The Ogun State Governor, Prince Dapo Abiodun has disclosed that the subsidy on fuel, if not curbed by President Bola Ahmed Tinubu, would have cost the country a whopping N5.4 trillion by the end of 2024.
Governor Abiodun noted that it would have been disastrous for Nigeria to pay such huge amount on subsidy on fuel against the Federal Government’s budget of N6.7 trillion for the same fiscal year.
The Governor stated this during the Special Church Service commemorating the 64th National Day celebration held at the Cathedral Church of St. Peter, Ake, Abeokuta.
He said the money is now available for the development of infrastructures across the country
“The Federal Government, under the amiable leadership of our President, Bola Ahmed Tinubu, wasted no time in embarking on some very bold and audacious initiatives aimed at repositioning our economy and saving us from bankruptcy. We must persevere.
“Mr. President removed the subsidy, which, if not curbed, would have cost us N5.4 trillion by the end of 2024.
“We have been busy subsidizing our neighbours; these are funds that can be invested in improving our infrastructure and other social services.
“Our budget this year for infrastructure was N6.7 trillion, meanwhile, the subsidy would have consumed N5.4 trillion, if not curbed or checked,” Abiodun explained.
Prince Abiodun, while calling on Nigerians to engage the government constructively and not join those fanning the flames of discord, said that protests would not achieve anything other than looting and vandalism of public properties.
“Let us be resilient, let us continue to pray, let us persevere, and let us hold on to our faith in Almighty God.
“Let us not join those who continue to fan the flames of discord in our land, and those who are calling for protests, violence, and civil disobedience, which only leads to vandalism, looting, and destruction of public property.
“Let us engage constructively and work with the government, knowing that this administration is an inclusive one,” he added.
The Governor also disclosed that his administration would continue to implement measures to cushion the effects of the present realities, adding that his administration has deployed CNG buses, started energy transition programs with the launching of e-bikes, reduced workdays for civil servants from five to three days, and provided free medical services for the poor and the elderly, among other initiatives.
He noted that his administration would soon be completing its farmers’ markets across the four zones of the state, adding that the state government’s Gateway Trading Company, where food items would be sold at wholesale prices, would soon begin operation.
“We will soon complete our farmers’ markets across the four zones of the state, where food items will be sold at affordable prices.
“Very soon, you will see our Gateway Trading Company that will start selling different items in different zones across the four zones of the state at wholesale prices. We will continue these types of initiatives to cushion the effects of the current realities,” he said.
