Fuel Subsidy: Oshiomhole Rules Out Return To N194/liter Price

Adams Oshiomhole, a senator-elect and former governor of Edo State, has ruled out the prospect of the federal government reducing the price of gasoline from N488 to N557 per liter to N194.

Oshiomhole stated that the 2023 budget does not include funding for fuel subsidies after May 31st during an appearance on Channels Television on Sunday.

Oshiomhole backed President Bola Tinubu’s decision, saying that other presidential contenders might have followed suit if they had won the February 2023 poll. President Bola Tinubu announced the expulsion on Monday of last week.

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He said, “I think Nigerians are aware that this year’s budget did not provide for subsidy throughout 2023. It ended in June.

“All the leading presidential candidates had during the electioneering season agreed to remove the subsidy. I remember the then candidate, Peter Obi saying he would remove it the very first day. Atiku Abubakar and Bola Tinubu said the same thing.

“The issue is not whether you have revenue, if Nigeria is going to save about N7 trillion by removing subsidy, then there is no question that you can take part of that and put it in other sectors because those savings will go to the federation account which will be distributed among the three tiers of government”.

While it continues to negotiate over the latest hike, the Trade Union Congress, TUC, on Sunday demanded the FG to return to the previous gasoline pump price of N194 per litre.

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In an effort to lessen the impact of the loss of the gasoline subsidy on Nigerians, the union also requested that the government examine the present minimum wage.

The demands were presented during the rescheduled meeting with the government on Sunday night at the State House in Abuja.

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