By Femi Alabi
The Arewa Economic Forum (AEF) has said that state governors are the primary beneficiaries of the subsidy removal policy, to the detriment of the Nigerian populace.
The Forum called President Bola Ahmed Tinubu to reconsider the petrol subsidy policy announced by his administration during the inauguration on May 29, 2023.
Addressing journalists at a press conference in Abuja on Thursday, the chairman of the forum, Ibrahim Shehu Dandakata noted that despite the increase in allocation to states, nothing has changed positively.
Dandakata highlighted, “We have observed that the substantial funds available to state governors are not being reinvested to stimulate state economies or utilised to provide relief for the citizens.”
He said despite the recent increased FAAC allocations, some states have failed to translate these windfalls into tangible improvements in the lives of their residents.
Dandakata expressed concern over the unforeseen hardships resulting from this decision. He emphasised that while the subsidy removal has led to substantial increases in FAAC disbursements to states, its impact on the lives of the masses remains questionable.
“We urge President Tinubu to reassess the subsidy removal policy and consider redirecting the additional funds provided to states towards reinstating PMS subsidies. Urgent action is necessary if the President is unable to compel governors to be more accountable within the bounds of his constitutional authority,” Dandakata urged.