Subsidy removal: President Tinubu reviews palliative initiative

President Bola Tinubu has directed the immediate review of the palliative to cushion the effect of removal of fuel subsidy.

In a statement issued by Mr Dele Alake on Tuesday in Abuja, Tinubu directed the immediate review of the N8,000 conditional cash transfer programme meant to bring succour to most vulnerable households.

He said that this was in deference to the views expressed by Nigerians against it.

The president also called for the unveiling of the whole palliative package to Nigerians.

Similarly, Tinubu ordered the immediate release of fertilisers and grains to approximately 50 million farmers and households respectively, in all the 36 states and the FCT.

“The President further assures Nigerians that the N500 billion approved by parliament to cushion the pain occasioned by the end of subsidy regime will be judiciously utilised.

“The beneficiaries of the reliefs shall be Nigerians irrespective of their ethnic, religious or political affiliation.

“The President covenanted with Nigerians that their welfare and security will be topmost in the Renewed Hope Agenda of his government.

“In the last few days, the conventional and new media platforms have become awash with stories of the government intending to embark on conditional cash transfer to vulnerable households mostly affected by the painful but necessary decision to remove subsidy from petrol.

“The story has been widely reported that the Federal Government is proposing to give 12 million households from the poorest of the poor N8,000 monthly for a period of six months as government palliative to reduce the discomfort being experienced by Nigerians consequent upon subsidy removal,” the statement read in part.

He said that the administration believes in the maxim that when there is prohibition, there must be provision.

“Since subsidy, the hydra-headed monster threatening to kill the economy, has been stopped, government has emplaced a broad spectrum of reliefs to bring help to Nigerians.

“It should be noted that cash programme is not the only item in the whole gamut of relief package of President Bola Ahmed Tinubu,” he stated.

The president further assured Nigerians that the N500 billion approved by parliament to cushion the pain occasioned by the end of subsidy regime would be judiciously utilised.

He added that the beneficiaries of the reliefs shall be Nigerians irrespective of their ethnic, religious or political affiliation

“President Bola Tinubu has promised to always prioritise the wellbeing of Nigerians and he is irrevocably committed to the vow.

“A number of decisions taken so far by this Administration have buttressed this stance.

“You will recall that the President took a similar decision after listening to complaints from the business community/stakeholders about burdensome taxes, particularly multiplicity of taxes they are made to experience.

“This warranted the signing of four (4) Executive Orders cancelling some classes of taxes, while suspending the implementation dates of others,” he said.

The President had also set up a Tax Reform/Fiscal Policy Committee to bring up recommendations that would engender a wholesome fiscal environment for the country and remove anti-business barriers.

He stressed that: “President Tinubu will continue to be a listening leader whose ears will not be dull to the views expressed by the citizenry.

“The President believes government exists to cater for the interest of the people and he has demonstrated this so clearly.”