Nigerians may have to brace up for tough times next year
following the revelation by the Spokesperson for the Presidential Campaign
Council of the All Progressives Congress (APC), Festus Keyamo that conversation
on the removal of fuel subsidy will commence next year.
Keyamo, who is also the Minister of State for Labour,
disclosed this Tuesday during the unveiling of The Progressives Forum in Abuja,
He revealed that the government now relies on the revenue
from Customs, Federal Inland Revenue Service (FIRS) and others to pay salaries.
The Minister admitted that petroleum subsidy was no longer
sustainable, insisting that it has eaten deep into the country’s economy.
Keyamo stated: “As a progressive party, we believe there
must be intervention in the lives of the very poor and the middle class. That
is why we have conditional cash transfers to the very poor. That is the
philosophy of President Muhammadu Buhari, that is the philosophy of APC. We
care a lot for the poor.
“If it were to be other government existing today as I speak
with you, there would be no subsidy now. But President Muhammadu Buhari said
before we remove it, we need to put some measures in place to cushion the
effect on the poor. Because there is no longer any justification to retain
subsidy as I speak with you today.”
Keyamo stressed that even in the United States and the
United Kingdom, the prices of petroleum have gone up more than four or five
times.
He added: “We are in government, we cannot hide it again
from the masses, from the people. We must all keep saying that subsidy has
eaten deep into our country, into our economy.
“Nigerian National Petroleum Corporation (NNPC) is no longer
remitting money to Federation Accounts Allocation Committee (FAAC). So all the
money they earn goes to subsidy. So, the government has to rely on revenue from
Customs, from Federal Inland Revenue Service (FIRS), from others to pay
salaries and other things.”
“But it is still the sympathy that the President has for the poor because he feels that we have to put measures in place to cushion the effect on the poor before they remove subsidy. And that is why they’ve pushed it to sometime next year. The conversation on how to remove subsidy will begin.”
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