Nigeria's Vice President Advocates for the Phasing Out of Fuel Subsidy

Nigeria’s Vice President Advocates for the Phasing Out of Fuel Subsidy for National Survival


Nigeria’s Vice President, Kashim Shettima, has highlighted the urgent need to end the fuel subsidy regime in the country, asserting that its elimination is crucial for the nation’s survival. Justification for Ending Fuel Subsidy: Vice President Shettima emphasized that the government recognized the expected opposition to its decision to remove fuel subsidy. Nevertheless, he stressed the importance of resoluteness in achieving this objective for the benefit of the country. Shettima argued that fuel subsidy has failed to benefit the ordinary Nigerian, instead serving as a means to subsidize the lifestyles of the affluent.


Determination to Address Subsidy Issue: Despite the anticipated opposition from beneficiaries of the subsidy regime, Shettima expressed confidence that President Tinubu, known for his strong will and conviction, would tackle the issue head-on.


The vice president affirmed that the president has already made pronouncements on the matter, highlighting the need to either eliminate subsidy or risk its negative consequences for the Nigerian nation.Consolidating Foreign Currency Exchange Rates: Shettima assured that the government intends to unify the multiple foreign currency exchange rates into a single rate. This move aims to streamline the currency exchange system and provide greater stability.


Looking Ahead: Shettima indicated that President Tinubu will soon unveil the agenda of the new administration, which will benefit all Nigerians. He emphasized the need for unity and loyalty to the president’s leadership, assuring that their collaboration would serve the greater good of the nation. Shettima expressed his belief that Tinubu is poised to redefine the concept of modern governance, calling on Nigerians to provide the administration with the necessary support.


Vice President Shettima’s advocacy for the phasing out of fuel subsidy reflects the government’s determination to address the challenges associated with the subsidy regime. The upcoming unveiling of the administration’s agenda under President Tinubu’s leadership is expected to shed further light on their plans for Nigeria’s future.

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