A group, the Arewa Youth Assembly, on Thursday, called for understanding, calm, and support for President Bola Tinubu's administration over the removal of subsidy on Premium Motor Spirit otherwise known as petrol and the adjustment of pump prices.
He argued that with subsidy payment, “even if oil prices increase in the global market, Nigeria and Nigerians benefit nothing because the gains from the increase in oil prices are channeled to paying subsidy.”
“Subsidy has fatal effects on inflationary pressures on the economy, which negatively impacts the exchange rates and results to all kinds of untold sufferings on Nigerian Masses and pushes millions of youths into different forms of terrorist activities and insurgency. “We should not, we cannot continue to pay subsidies in this country if we want to have Nigeria as a nation in the next decades to come.
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