Peter Obi has maintained that fuel subsidy is an organised crime.
NewsOnline Nigeria reports that Peter Obi, Labour Party’s presidential candidate in the 2023 election, has once again described fuel subsidy as an organized crime.
This Nigeria news platform understands that Peter Obi on Monday made this statement while featuring on Arise TV’s ‘The Morning Show’. He stated that although he agreed with the decision to remove the fuel subsidy, he would have taken a different approach in implementing the policy.
The ex-governor of Anambra State also commented on the palliative initiatives the Federal and State Government has implemented since the removal of subsidy.
Obi said that the gains from removing subsidies should have been invested in critical areas such as education, health and poverty alleviation programmes.
He said,
Responding to a question on the challenges in the foreign exchange market, Obi reiterated that things could have been done differently.
He explained that the pressure on the FX is due to the lack of sufficient supply to float the naira against the dollar.
According to the former governor, the government should have consulted their economy team in ensuring the supply of FX, albeit putting in place initiatives to encourage export.
Speaking on how his party would have approached the conundrum, he stated that they would have opted for the devaluation of the naira instead of leaving it open to market forces by floating the currency.
President Tinubu’s decision to remove the fuel subsidy has stirred controversy, garnering diverse reactions from both stakeholders and opposition members.
On the part of the organized labour, they faulted the presidency for not providing enough palliatives to ameliorate its aftermath effects on the masses.
Earlier, they threatened a nationwide strike causing the Federal Government to summon a meeting with them yesterday.
The outcome of the meeting is still yet to be concluded, as the union has yet to release a definite statement on their agreement with the government.
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