A former Governor of Edo State, Adams Oshiomhole has revealed that the federal government under the leadership of President Bola Tinubu is working on an immediate solution to the discomfort caused by the fuel subsidy removal.
Oshimhole who was part of the meeting between the government and the Trade Union Congress (TUC) on Sunday made the revelation while speaking during Channels TV Sunday Politics.
According to him, President Tinubu recognizes the effect of the fuel subsidy removal policy on Nigerians as well as the discomfort that comes with it, hence the need for an immediate solution.
He added that the immediate solution and how to cushion the impact of fuel subsidy removal is what was discussed during Sunday’s meeting between the government and the TUC.
“This president recognizes that the effect of the withdrawal is already here, people are already going through some level of discomfort and therefore there has to be an immediate solution to it.
“Now that immediate solution is what we discussed and the fact that we are meeting on Tuesday again shows that clearly, we realize that this is not one of those things you want to buy time because it has a real negative impact, on particularly, the most vulnerable group.
“But we have a solution to it because you are going to make savings, so take from that savings or even if it is borrowing. So, whatever it is, you can leverage some revenue and improve wages to cushion the cost of living, I think it is legitimate, I think it is doable, it is not something that you want to spend two to three months negotiating,” Oshiomhole said.
While backing the fuel subsidy removal policy of the Tinubu government, Oshiomhole who is a former chairman of the Nigerian Labour Congress (NLC) disclosed that Nigeria can save about N7 trillion by ending subsidy.
He said the savings from fuel subsidies can be channeled to meet the demands of an increase in wages.
“Those savings will go into the federation account which will be distributed among the three tiers of government and so every tier of government will have more money and should be able to meet the consequential increase in wages,” he added.
Oshiomhole described the meeting as productive, adding that the government will consider all the demands by the TUC and revert on Tuesday.
