Abiodun: Nigeria Will Save N5.4tn from Fuel Subsidy Removal in 2024

James Sowole in Abeokuta

The Ogun State Governor, Dapo Abiodun has disclosed that the subsidy on petrol if it was not ‘removed’ by President Bola Tinubu, would have cost the country a whopping N5.4 trillion by the end of 2024.
Abiodun noted that it would have been disastrous for Nigeria to pay such a huge amount on subsidy on fuel against the federal government’s budget of N6.7 trillion for the same fiscal year.
The governor stated this during the special church service commemorating the 64th National Day celebration held at the Cathedral Church of St. Peter, Ake, Abeokuta.

He said the money is now available for the development of infrastructure across the country
He said: “The federal government under the amiable leadership of our President, Bola Tinubu, wasted no time in embarking on some very bold and audacious initiatives aimed at repositioning our economy and saving us from bankruptcy. We must persevere.
“Mr. President removed the subsidy, which, if not curbed, would have cost us N5.4 trillion by the end of 2024.
“We have been busy subsidising our neighbours; these are funds that can be invested in improving our infrastructure and other social services.
“Our budget this year for infrastructure was N6.7 trillion, meanwhile, the subsidy would have consumed N5.4 trillion, if not curbed or checked.”

Abiodun, while calling on Nigerians to engage the government constructively and not join those fanning the flames of discord, said that protests would not achieve anything other than looting and vandalism of public properties.
“Let us be resilient, let us continue to pray, let us persevere, and let us hold on to our faith in Almighty God.
“Let us not join those who continue to fan the flames of discord in our land, and those who are calling for protests, violence, and civil disobedience, which only leads to vandalism, looting, and destruction of public property.

“Let us engage constructively and work with the government, knowing that this administration is an inclusive one,” he added.
The governor also disclosed that his administration would continue to implement measures to cushion the effects of the present realities.
He addee that his administration has deployed CNG buses, started energy transition programmes with the launching of e-bikes, reduced workdays for civil servants from five to three days, and provided free medical services for the poor and the elderly, among other initiatives.
He noted that his administration would soon be completing its farmers’ markets across the four zones of the state, adding that the state government’s Gateway Trading Company, where food items would be sold at wholesale prices, would soon begin operation.

“We will soon complete our farmers’ markets across the four zones of the state, where food items will be sold at affordable prices.
“Very soon, you will see our Gateway Trading Company that will start selling different items in different zones across the four zones of the state at wholesale prices. We will continue these types of initiatives to cushion the effects of the current realities,” he said.
Earlier in his message titled: “Leading Our Nation Forward in a Time Like This: Lessons from Elisha’s Leadership,” the Diocesan Bishop of Ijebu North Anglican Diocese, Rev. Akinwande Odubena, who also read from the book of 2 Kings, Chapter 7, Verse 1, noted that leadership plays a crucial role in the future of any country.

Odubena, who noted that Nigeria is currently dealing with hyper-inflation, problems of oil theft, vandalism, an increase in unemployment that has given birth to internet fraud, insecurity, infrastructure challenges, kidnapping, and banditry, added that the citizens must be hopeful for a better Ogun State and Nigeria as a whole.

The Diocesan Bishop, while noting that it was important for the people and the leaders of Nigeria to trust in the plan of God, said that unity and prosperity must be prioritised.