…Praises Fuel Subsidy Removal, Highlights N5.4 Trillion Savings for Nigeria
Ogun State Governor, Prince Dapo Abiodun, has lauded President Bola Ahmed Tinubu’s decision to remove the fuel subsidy, revealing that the country would have faced a staggering N5.4 trillion expenditure by the end of 2024 if the policy had not been scrapped.
Speaking at a special church service in Abeokuta to commemorate Nigeria’s 64th Independence Day, Governor Abiodun emphasized the potential economic disaster of continuing the fuel subsidy in the face of a Federal Government budget of N6.7 trillion.
“The Federal Government, under the amiable leadership of our President, Bola Ahmed 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,” Abiodun stated.
He stressed the importance of reallocating funds previously wasted on fuel subsidies towards developing national infrastructure. “We have been busy subsidizing our neighbors; these are funds that can be invested in improving our infrastructure and other social services,” he added.
According to the Governor, the cost of subsidy, if unchecked, would have been nearly as high as the budget allocated for infrastructure in 2024. “Our budget this year for infrastructure was N6.7 trillion, meanwhile, the subsidy would have consumed N5.4 trillion, if not curbed or checked,” he explained.
Governor Abiodun also urged Nigerians to resist joining those inciting unrest, calling for constructive engagement with the government. “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,” he warned.
In addressing the impact of recent economic reforms, the Governor reiterated his administration’s commitment to easing the effects of these changes on the people. He listed several initiatives already underway, including the deployment of Compressed Natural Gas (CNG) buses, energy transition programs with the launch of e-bikes, reducing the workdays for civil servants, and providing free medical services for the poor and elderly.
He also announced the imminent completion of farmers’ markets across Ogun State and the launch of the Gateway Trading Company, which will offer food items 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,” Abiodun said.
Earlier, in his sermon titled *“Leading Our Nation Forward in a Time Like This: Lessons from Elisha’s Leadership,”* the Diocesan Bishop of Ijebu North Anglican Diocese, The Rt. Rev’d Dr. Akinwande Godwin Odubena, called for steadfast leadership and unity during Nigeria’s challenging times. Citing hyper-inflation, unemployment, and insecurity, the bishop urged Nigerians to trust in God’s plan and work together for the prosperity of the nation.
Rt. Rev’d Odubena emphasized the need for caution, discouraging violent protests and calling for dialogue in addressing grievances with the government. He also encouraged parents and guardians to advise their children and wards against joining destructive protests.
The Bible reading for the service was taken by Governor Abiodun from 2 Corinthians, Chapter 11, Verses 16-31.
