Tinubu has immediate solution to cushion effects of subsidy removal – Oshiomhole

Adams Oshiomhole, who served as the governor of Edo state in the past, claims that President Bola Tinubu is working on an immediate solution to cushion the effect of the removal of the subsidy.

This information was provided by Oshiomole during an interview that was broadcast on Sunday Politics on Channels Television.

The former governor voiced their optimism that the issues that have arisen as a result of the removal of the fuel subsidy will be resolved expeditiously between the Federal Government and organized labor.

According to Oshiomhole, Tinubu is aware of the effect that the removal of the fuel subsidy is having on Nigerians and is resolved to take immediate action to cushion the effects of this withdrawal.

He said, “This president recognizes that the effect of the withdrawal is already here, people are already going through some level of discomfort, and therefore there needs to be an immediate solution to it.” He was referring to the fact that the withdrawal has already taken place.

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“Now that immediate solution is what we discussed, and the fact that we are meeting again on Tuesday clearly shows that we are aware that this is not one of those things you want to buy time for because it has a real negative impact, particularly on the most vulnerable group. We are aware that this is not one of those things you want to buy time for because it has a real negative impact, on particularly, the most vulnerable group.

However, we do have a solution to this problem because you are going to make savings. Since you are going to make savings, you should take money out of those savings or even if it means borrowing money.

“So, whatever it is, you can leverage some revenue and improve wages to cushion the cost of living, I think it is legitimate, I think it is doable, but it is not something that you want to spend two to three months negotiating,” he said. “So, whatever it is, you can leverage some revenue and improve wages to cushion the cost of living.”

On Sunday, Oshiomole, a former president of the Nigeria Labour Congress (NUC), participated in a meeting between the Federal Government and the Trade Union Congress (TUC). In this capacity, he represented the Nigeria Labour Congress.

He stated that the meeting was fruitful and added that the government will take into consideration all of the demands made by the TUC and provide a response on Tuesday.

Oshiomole suggested that the Nigerian government could use some of the money saved from eliminating subsidies to increase wages if the country was able to achieve savings of approximately N7 trillion.

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He stated, “This is possible because those savings will go into the federation account which will be distributed among the three tiers of government and so every tier of government will have more money and should be able to meet the consequential increase in wages.” The federation account will be distributed among the three tiers of government.