Nigeria’s Future At Risk Without Removal Of Fuel Subsidies – Shettima

Vice President Shettima Urges Swift Elimination of Fuel Subsidies for Nigeria's Future Prosperity

In a recent address to journalists at Aso Villa, Abuja, Vice President Kashim Shettima voiced his concerns over the long-term implications for Nigeria if President Bola Tinubu’s administration fails to eliminate fuel subsidies.

Nigeria's Future At Risk Without Removal Of Fuel Subsidies - Shettima
Vice President, Kashim Shettima

Emphasizing the impact on the masses as opposed to the privileged upper class, Shettima asserted that the removal of the subsidy would ultimately serve the nation’s best interests.

Shettima’s remarks came in response to President Tinubu’s announcement regarding the imminent removal of fuel subsidies shortly after his inauguration as the President of the Federal Republic of Nigeria.

“The President has already addressed the issue of fuel subsidies. The truth of the matter is that it is either we get rid of the subsidy or the fuel subsidy gets rid of the Nigerian nation,” stated Shettima.

He continued, “In 2022 alone, a staggering $10 billion was spent subsidizing the lavish lifestyles of the upper class of society because you and I benefit 90% from the oil subsidy. The poor 40% of Nigerians benefit very little.

Aware of the potential backlash from those who benefit from the fuel subsidy system, Shettima acknowledged the opposition that lay ahead. He expressed confidence in President Tinubu’s unwavering resolve and conviction to tackle the issue head-on, ensuring that the nation’s interests would be prioritized.

“We understand that dismantling this deeply entrenched subsidy scheme will face fierce resistance from those who profit from this exploitative system. However, where there is a will, there is a way. Rest assured, our President possesses the determination and foresight to bring about meaningful change,” Shettima affirmed.

The Vice President concluded his statement by assuring the public that President Tinubu’s noble intentions would become evident in due course. He emphasized the urgency of addressing the fuel subsidy issue promptly for the betterment of the nation.

As Nigeria stands at a critical juncture, with its economic stability hanging in the balance, the fate of fuel subsidies remains a matter of grave concern.

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