About 82 Civil Society Organisations under the aegis of Civil Society Coalition for Economic Development have hailed President Muhammadu Buhari over plans to end subsidy regime in Nigeria.
The coalition noted that the subsidy regime was unsustainable, saying the best way to tackle the problem was to remove subsidy. They further recommended that fuel subsidy regime be stopped from January 2022. They said the subsidy regime was a major challenge forcing the federal government into external borrowing.
“The fuel subsidy regime was a capitalist and elitist policy that services only the top-heavy, hence, successive governments found it difficult to implement their economic policies.“The development, discussants averred was largely responsible for national debts as revenue coming into the Consolidated Revenue Fund account are used to settle the fuel subsidy.
“The organised labour should be considerate and not to embark on strike action in the circumstance that the Federal government has ended fuel subsidy regime, given the reversal of huge resources back into the federal government coffers.
Government-owned and government-sponsored CSOs
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