According to reports, President Bola Ahmed Tinubu is thinking about temporarily subsidising Premium Motor Spirit (PMS), also known as petrol.
TheCable reports that as crude oil prices and foreign exchange rates continue to increase on the global market, the president is seriously considering restoring fuel subsidies.
President Tinubu has not made a final judgement on the topic, according to sources within the Presidency, who also stated that the proposal is “firmly on the table”.
Subsidy Removal: FG Feared Protest Would Be Worse Than #EndSARS
According to Anaedoonline.ng, tough economic realities have persisted for Nigerians after the withdrawal of the petrol subsidy in May 2023.
In the last three months, the price of petrol has increased from N200 to N500/700 as a result of the elimination of the fuel subsidy.
The Nigerian Labour Congress (NLC) has already threatened to go on an indefinite strike if petrol prices continue to rise.
The NLC President, Joe Ajaero, announced that the union would move forward with a complete, all-encompassing, and indefinite nationwide closure of the nation while speaking at the African Trade Union Alliance meeting on Monday in Abuja.
Ajaero also cautioned the federal government against undermining the union’s demands and the scheme to give employees and Nigerians palliatives.
FG Subsidises Electricity By N50bn Monthly, Minister Reveals
He claimed that Nigerians had already suffered enough as a result of government actions and would not be amenable to any increase in the price of petrol that would make matters worse.
Follow us on Facebook
Post Disclaimer
The opinions, beliefs and viewpoints expressed by the author and forum participants on this website do not necessarily reflect the opinions, beliefs and viewpoints of Anaedo Online or official policies of the Anaedo Online.
