GOV OTTI LAUDS SUBSIDY REMOVAL BUT …
REPORTER: PEACE AGBO
Governor Alex Otti of Abia State says removal of petrol subsidy by the Federal Government is a commendable decision that will improve the economy of Nigeria.
He spoke as a guest Lecturer at the 63rd Founders Day of the University of Nigeria Nsukka (UNN) with the theme “Fuel Subsidy Removal: Dealing with the Challenges, Harnessing the Opportunities.”
The Governor said the implementation of the policy was long overdue.
Governor Otti said that previous governments had given a false impression that fuel subsidies were primarily government assistance to the poor.
He said there was clear evidence that poor Nigerians did not benefit from fuel subsidies as previously believed unlike in other countries, where governments strategically retained subsidies on essential products for the poor and encouraged a similar approach in Nigeria.
The Governor expressed concerns that the removal of petrol subsidy had worsened living conditions for citizens and urged the immediate implementation of robust policies to address rising poverty and unemployment.
Governor Otti bemoaned the adverse impact of subsidy-driven imports on domestic refining investments and called for the development of a more comprehensive policy framework to support specific areas of need identified by the World Bank.
He suggested that measures such as subsidized mass transit, cash transfers, food assistance, and low-interest agricultural loans should have been considered to support the urban and rural poor.
Governor Otti advocated a reconsideration of the national minimum wage to reflect the current economic realities, emphasizing the importance of prioritizing the welfare of the population.
Governor Otti announced the plans by his administration to alleviate the effects of fuel subsidy removal on Abia civil servants while sharing several initiatives by the Abia State Government to mitigate the effects of subsidy removal.
These included tax holidays for micro, small, and medium enterprises, free medical services.
In his address, the Vice Chancellor of the Institution, Prof. Charles Arizechukwu Igwe, said that “the Founders Day celebration of the UNN is an annual event to commemorate the birth of the first Indigenous University in Oct 1960 by Dr. Nnamdi Azikiwe.”
He noted that Governor Otti was chosen to deliver the 63rd lecture based on his uncommon achievements, which would inspire and motivate the staff, students and alumni of the institution.
The event, which was chaired by Professor Elochukwu Amaucheazi, was attended by the Governor of Enugu State Chief Peter Mbah, who was represented by the Information Commissioner, Mr. Aka Eze Aka, amongst other dignitaries.
EDITED BY CHUKWUBUIKE MADU
