Abubakar Laments over Fuel Subsidy Removal

Former Head of State Abdulsalami Abubakar has lamented over the recent proposed increase in the pump price of fuel. He said such action will drag millions of Nigerians into poverty.

The elder statesman stated this while speaking at the 19th Daily Trust Summit in Abuja. He noted that the country is facing several challenges and a hike in the pump price of fuel will be worsting the situation.

According to Abdulsalami, “On top of all these, fuel prices are expected to rise significantly in the coming months as announced last November by the NNPC,” General Abdulsalami said.

“We all know when this happens, as the government has planned, it will push many millions deeper into poverty.”

According to him, the rising unemployment or underemployment level is affecting the security of the nation.

“Unemployment or underemployment remain at record levels.  And over 80 million Nigerians are still caught up in needless poverty.

“All of these tend to have negative effects on security. “In fact, Nigeria now faces a food security crisis that is compounded by the COVID-19 global pandemic and the banditry in many states in Northern Nigeria,” he added.

“All of these have disrupted the fragile value chains across the country, and negatively impacted the ability of Nigerians to produce, process, and distribute food.”

Abdulsalami was reacting to plans by the Federal Government to remove fuel subsidy which will make fuel price go over N300 per litre.

The Minister of Finance, Zainab Ahmed, had earlier reported that the federal government will remove fuel subsidies by 2022 and replace them with an N5000-a-month transportation grant to the poorest Nigerians.

However, the plan was rejected by organized labor and the National Association of Nigerians Students (NANS), among others.