By David Agabi.
The Peoples Redemption Party (PRP) on Monday urged the Federal Government of Nigeria to disregard as well as reject the International Monetary Fund’s (IMF) recommendation to phase out Fuel and Electricity subsidies completely in the country.
In a release signed by the Acting National Publicity Secretary, Comrade Muhammed Ishaq, the party in its view noted that such recommendations at a moment when Nigerians are grappling with the worst economic hardship since the Nigerian State came into being as a direct consequence of last year’s fuel subsidies removal and massive devaluation of currency is insensitive and inconsiderate.
Consequently, the party posited that as a sovereign nation, Nigeria should decide on policies that are guaranteed to promote the overall well-being of its citizens without any interference or dictation from neo-liberal or neo-colonial organisations such as the IMF or World Bank which mostly are out to service the profit motive of the multinational corporations and Western powers at the expense of the Nigerian long-suffering people.
According to the release, “the Federal Government must prioritise the welfare of Nigerians and consider the socio-economic implications of removing these subsidies” he stressed.
While pointing out that the sudden removal of fuel subsidies by the Bola Tinubu’s administration in his inaugural speech led to the spike in the cost of living, the party wonder if the same administration wants all Nigerians to lapse into grave poverty and perish.
However, the party proposes that instead of removing these essential subsidies, the Federal Government should focus on addressing the root causes of the inefficiency in the oil and power sector; suggesting that the Central Government should devote its power to tackling massive corruption in the two sectors, promoting transparency and investing in infrastructure to improve the delivery of these services to the citizens.
The Party therefore call on the Federal Government to as a matter of responsibility stand firm in its resolve to protect the interest of its citizens. It also urges it to explore alternative measures that can address the nation’s teething financial challenges without subjecting Nigerians to further economic suffering.
