Fuel subsidy: Pro-Tinubu protesters storm National Assembly

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    Tinubu’s supporters reportedly stormed the National Assembly’s main entrance popularly known as Mopol gate on Thursday.

    The protesters said they decided to hit the street to show solidarity with the President Bola Tinubu, over the removal of fuel subsidy.

    The protesters claimed that the president made the right decision by removing the ‘canker worm’ that has eaten deep into the economy.

    Wakadaily report on Tuesday that the pump price of Premium Motor Spirit popularly called petrol hits N617 to N700 per litre from N537.

    Since Tinubu announced the removal of fuel subsidy during his inauguration on May 29, the price of fuel have tried in Nigeria, which has so far raised concerns across the country.

    Speaking on the current economic hardship, the convener of Stand Up Nigeria, Sunday Attah, said the president has done the right thing.

    He said: “The announcement on the 29th May 2023, by President Bola Ahmed Tinubu, that the subsidy on fuel has been removed has come with mixed feelings. While some have hailed it as apt and timely others have expressed reservation that it may cause further hardship on the citizenry.

    “You will recall that the President anchored the policy on the fact that there was no provision for subsidy payment in the 2023 budget hence cannot be sustained.

    Apart from that, the country was bleeding seriously through many leakages occasioned by corruption in high places chiefly among which are the claims on subsidy payments to many firms.

    “After observing the initial reaction to the measure and the attendant panic buying and other impacts on the socio-economic life of Nigerians, we wish to state that the President has done the right thing by removing the subsidy as the advantages of doing so outweigh the disadvantages.

    We have observed that the initial hiccups of long queues at the fuel stations have disappeared while access to petroleum products has become easier and guaranteed as people can now drive into filling stations and refill their tanks without wasting unnecessary man hours on queues.

    Past administrations have attempted to remove fuel subsidies but have not been successful due to opposition on the wrong belief that the implication of subsidy removal is just the increase in the price of fuel.

    “There was also the suspicion that the proceeds made from the removal will be embezzled and the gains will not get to the intended beneficiaries.

    But President Bola Ahmed Tinubu has shown that he has the integrity to use the funds for the development of the country and has announced a number of palliatives to cushion the effects of the increase in the price of fuel.

    “We believe other measures would follow that will make Nigerians willing to see the increase in the price of petroleum products as a necessary sacrifice for growing the economy.”

    “By the time the monies freed from subsidy removal are appropriated and plowed back into the economy and all sectors begin to witness quantum growth, Nigerians would begin to see the positive effects of subsidy removal,” Sunday Attah added.

    Queen Ferry
    Queen Ferry
    Chinyere Treasure Ikechukwu known professionally as Queen Ferry, is a Nigerian business Executive, Journalist and Content Editor. She serves as the Vice-Chairman of Naijatraffic Limited. If Treasure is not blogging, she will be making delicious delicacy.

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