Fuel Subsidy Removal: What FG Must Do To Alleviate Sufferings Of Nigerians– CPPE

The Director General of the Centre for the Promotion of Private Enterprise (CPPE) Muda Yusuf has revealed ways the government can ease Nigerians’ sufferings as part of measures to alleviate the effect of subsidy removal.

Yusuf while reacting to the subsidy removal stated that any measure the government will intend to take should focus on reducing the “cost of food, provision of cheaper public transportation options, and improving the power supply”

Advertisement

According to him, these measures will ease the cry of Nigerians as a result of the hike in the price of transportation, and food commodities which have risen from 100 per cent to 200 per cent.

However, the price increase is dependent on the location of the city in the country.

In his reaction, the CPPE boss told THE WHISTLER that the increase was quite high and the shocks on citizens were enormous as well but noted that these are some of the inevitable costs of reforms.

On the measures to be taken, Yusuf said “The government needs to urgently put immediate and short-term measures in place to mitigate the pains of the sharp increases in transportation costs on the citizens.

Advertisement

“Food and transportation account for over 50 per cent of the household budget of the poor, something urgent needs to be done.

“The measures the government intends to take should focus on reducing the cost of food, provision of cheaper public transportation options, and improving power supply to reduce demand for fuel for electricity generators.

“Also, incentives should be provided to promote the use of Autogas, reduction in import tariffs for intermediate products for food processing companies, eliminating taxes and levies on all agricultural inputs to boost food production and reduction in import tariffs on mass transit buses.”

He further said that things have to get worse before it gets better, adding that “It would be painful initially, but it would progressively get better as the supply-side response improves, and the prices will moderate.”

Leave a comment

Advertisement