Former governor of Ekiti state, Kayode Fayemi l, has said that the announcement of petrol subsidy removal was “a little bit precipitous”. Fayemi, while speaking in an interview on Channels Television on Friday, said the announcement did not give enough room for the federal government to prepare for the effects of the policy.
Recall that on May 29, 2023, President Bola Tinubu, in his inauguration speech, announced the removal of subsidy, a development which led to a hike in the pump price of the product and other items. According to him, the Tinubu administration inherited a “challenging” economic situation and that the policies initiated were appropriate. “The government that is in office now inherited a challenging situation.
“I actually think the policy changes were appropriate but the announcement at the inauguration day was a little bit precipitous and did not allow for enough room to prepare the ameliorating circumstances that would address the challenges that were bound to come in terms of inflation,' he said. The former governor said the federal government has recognised the challenges and is working towards improving the situation.
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