The Chairman of the Senate Committee on Finance, Senator Sani Musa, has described the removal of petroleum subsidy by hailed President Bola Tinubu as the best thing to happen to Nigeria.
This is even as he said that President’s economic reforms, especially the floating of the Naira and removal of fuel subsidy will drive development in the country.
Recall that during his inaugural speech on May 29, 2023, President Tinubu ended the long-standing fuel subsidy. He also in June of same year liberalized the Naira currency in a bid to draw more investment.
However, while investors have applauded the moves, Nigerians are struggling with tripled fuel prices and runaway inflation. A situation that birthed high cost of food items across the Nigerian markets.
Speaking on Channels Television’s Politics Today on Friday, the Senate Committee Chairman, praised the political will of President Tinubu in carrying out the reforms.
Musa, therefore, said the removal of subsidy on petroleum products was the best thing to happen to Nigeria.
“We want to be sure that what we are doing is not going to reflect negatively on Nigerians.
“What this Government is doing, by virtue of the fact that we removed subsidy, removing subsidy is the best thing that has happened to this country.”
The Senator who represents Niger East Senatorial zone in the National Assembly called for more funding for the States. He noted that the Federal Government should through the Federation Account Allocation Committee (FAAC) disburse enough funds to States on a monthly basis.
While requesting for more funding of the States, Musa also faulted some States for not making good use of the allocations. He, therefore, urged the State to use the fund to address some major issues in their jurisdiction.
He said, “Today how much are we owing? If the money that Nigeria is making today and the money that FAAC is distributing to the states, the state government utilize those money adequately, a lot of things will go well.”
Musa also used the occasion of the programme to say that President Bola Tinubu is taking his time before presenting the 2025 budget to the National Assembly. This, he said is in order to prevent lapses.
Musa insisted that it is not yet late for the President to present the 2025 Appropriation Bill.
He noted that there were a lot of noises from Nigerians that the government was rushing policies. He added that the President considered those voices and is now ensuring that everything is properly checked before presenting a budget.
“I believe that Mr. President is now considering those concerns that Nigerians have expressed.
“The President is making sure that the budget he is bringing is a budget that will rediscover the economy of Nigeria. So, I don’t think it is late (to present the budget).
“I believe Mr. President is doing what he is supposed to do in order to checkmate whatever lapses we had in 2024 budget. And then correct them in 2025 budget. So, for me, it is not too late,” the Senator said.
source: Channels TV
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