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From Fred Ezeh, Abuja
Christian Association of Nigeria (CAN) has tackled the decision of the Federal Government to remove subsidy on petroleum products without adequate provision of palliatives to cushion the sufferings that would, expectedly, accompany the decision.
CAN agreed that there was huge corruption that shrouded the fuel subsidy regime, but insisted that some measures would have been taken by the government to cushion its effect.
CAN President, Archbishop Daniel Okoh, in a statement, on Friday, expressed deepest concerns of CAN over the prevailing hardships faced by Nigerians arising from the fuel subsidy removal, and called for immediate steps to mitigate the situation.
He was unhappy that, while Nigerians were trying to adjust to the initial increase in the fuel price to N540 and its consequential effect on the cost of transportation, food, goods and services, and the general cost of living, another hike alluded to market forces took the price to N617.
“This has placed enormous burden on the already struggling masses, further widening the gap between the rich and the poor, and drastically eroding the purchasing power of ordinary citizens, thus making it extremely difficult for them to afford the basic necessities of life.
“The situation is just unbearable for millions of Nigerians who were already suffering poverty. While CAN acknowledges the complex and difficult decisions that government must take to manage the nation’s economy, there is the urgent need to prioritise measures that would alleviate rather than exacerbate the existing poverty level and hardships of Nigerians.
“It is therefore imperative that economic policies are formulated and implemented with utmost care and consideration for the prevailing hardships experienced by Nigerians.”
He highlighted some steps which, according to him, the government must take to assist Nigeria absorb the shock and effects of the fuel subsidy removal and increasing cost of living.
He asked the government to quickly engage with critical stakeholders in a dialogue to explore sustainable solutions to the current situation.
“It’s pertinent to develop comprehensive economic policies that promote inclusive growth, job creation, and social well-being. Government should also focus on diversifying the economy, reducing dependency on volatile commodities, and promoting investments in sectors with the potential to create sustainable employment opportunities. This will not only bolster economic resilience but also contribute to the overall well-being of citizens.
“The fuel subsidy palliatives being considered by government should go beyond cash transfers to consider introducing mass transport across the states to reduce the cost of transportation. The multiplier effect of this will be profound.
He also asked the government to take measures to reduce the price of fuel, noting that such measures should include removal of unnecessary levies and taxes on imported petroleum products, stabilization of the foreign exchange market and putting back local refineries to functional and effective use.
