• News - South West - Lagos
  • Updated: June 02, 2023

Subsidy Removal Will Look Like A Disaster At First — Lagos Legislator

Subsidy Removal Will Look Like A Disaster At First — Lagos

A member of the Lagos State House of Assembly representing APC-Ojo I, Victor Akande, has encouraged the pains of the subsidy removal recently announced by President Bola Tinubu on his inauguration day. 

Akande gave the urge in n interview with the News Agency of Nigeria (NAN) in Lagos on Thursday.

The prices of petrol pumps have skyrocketed from the usual N195 per litre since the President's announcement.

Akande who doubles as the Chairman of the House Committee on Judiciary stated that Nigerians will benefit a lot from the removal of the subsidy after the pain experienced in the first few months. 

“The removal of subsidy will look like a disaster and pain to us at the moment but tomorrow we shall all enjoy the benefits it will bring to us.

“Truly, the price has gone up but by the time things start to stabilise, the price will come down. In short, in the next six months, everything will start coming down.

“It will be good if the subsidy is channelled towards salary increment than using it to pay subsidy to few people. The cost implication will be lesser if the salary is increased,” he said.

Akande emphasised further that the government's continued payment of subsidies amounted to the enslavement of Nigerians by a small group of people who were happy to make cash at the expense of the general populace.

He claimed that President Tinubu said no one should feel sorry for him since he understood the enormity of the task at hand.

According to the legislator, the president has a plan for what he wants to do and advised Nigerians not to feel sorry for him because he applied for the position and was prepared to take it.

He maintained that Tinubu is a man of his word and that the subsidy's removal is a good thing because it was a dishonest way for those involved to accumulate a fortune for themselves.

Akande added that now is the appropriate moment to begin repaying the nation's debt as opposed to paying particular people. 

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