The African Action Congress (AAC) candidate during the 2023 Presidential election, Omoyele Sowore, has berated President Bola Ahmed Tinubu over the removal of subsidy on Premium Motor Spirit (PMS) also known as petrol.
Recalled President Tinubu, in his inaugural speech at Eagle Square in the Federal Capital Territory (FCT), Abuja, declared the end of the era of fuel subsidy payments.
This announcement resulted in a surge of panic buying and arbitrary hoarding of petroleum products by marketers.
Taking to his official Twitter page, Sowore criticized Tinubu’s decision, highlighting the consequences it had brought upon the citizens.
He said: “Worker’s minimum wage is N30k per month, @officialABAT just stumbled a few times at his inauguration and the only thing he could say was “Fuel Subsidy” is gone! He didn’t say next…Minimum Wage is now N250k! And now those who claimed this is good for Nigeria are stranded at home unable to pay their way to “work.
“Those who said an increase in the minimum wage would lead to inflation are not saying a 300% increase in fuel price will kill everyone, even the middle class (if there exists any). They don’t care about you.
Worker’s minimum wage is N30k per month, @officialABAT just stumbled a few times at his inauguration and the only thing he could say was “Fuel Subsidy” is gone! He didn’t say next…Minimum Wage is now N250k! And now those who claimed this is good for Nigeria are stranded at home… pic.twitter.com/RX2njrOFy7
— Omoyele Sowore (@YeleSowore) May 31, 2023
In contrast, the Nigerian National Petroleum Company Limited (NNPCL) applauded President Tinubu for his decision to remove the fuel subsidy.
After holding an emergency meeting in Abuja, Mele Kyari, the Group Chief Executive Officer (GCEO) of NNPC Limited, commended the president for lifting the burden of subsidy payments on the company’s cash flow.
Kyari emphasized that this move would free up funds, enabling the NNPCL to optimize its operations efficiently. He assured Nigerians that there would be an adequate supply of petrol.
While acknowledging the concerns and fear among the public regarding potential price fluctuations, Kyari urged Nigerians not to engage in panic buying. He emphasized that the NNPCL had over 30 days’ worth of PMS storage and supply, ensuring a stable availability of fuel.
As the removal of fuel subsidies continues to elicit mixed reactions from various stakeholders, the nation remains divided over the long-term effects of this decision on the economy and the welfare of the Nigerian people.
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