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Tuesday, April 23, 2024

Arewa Economic Forum urges president Tinubu to reverse fuel subsidy removal

Calls for Transparency in Allocation of Federal Funds Amid Economic Hardship

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In a press briefing held in Abuja, the Arewa Economic Forum called upon President Bola Tinubu to reconsider the removal of fuel subsidies, citing unprecedented hardship experienced by citizens since its implementation.

Ibrahim Dandakata, Chairman of the Forum, emphasized the need for immediate action to address the economic challenges facing Nigerians, including soaring inflation and the sharp devaluation of the naira resulting from the subsidy removal.

Dandakata highlighted concerns regarding the allocation of increased funds to state governors without significant improvements in the lives of citizens. He urged President Tinubu to utilize the extra funds provided by the Federal Allocation Accounts Committee to reinstate the Premium Motor Spirit subsidy until governors demonstrate greater accountability to the people.

The forum also called for the establishment of a comprehensive social register to facilitate the direct distribution of food items to Nigerians, bypass state governments, and ensure efficient delivery of essential goods.

Addressing forex crises and economic instability, Dandakata urged the government to take decisive measures to stabilize the naira, including prohibiting the hoarding of dollars and investigating the fluctuation of the dollar exchange rate after FAAC meetings.

Furthermore, the forum advocated for the expansion of the Police Constabulary to enhance local-level security efforts, cautioning against the establishment of state police forces that could be subject to gubernatorial influence.

As Nigeria grapples with economic uncertainties, the Arewa Economic Forum underscores the urgency of transparent governance and proactive measures to alleviate the hardships faced by its citizens.

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