…By Dorcas Funmi for TDPel Media.
Governors elected under the ruling All Progressives Congress (APC) have announced their endorsement of President Bola Tinubu’s administration and its initiative to remove fuel subsidy.
The Progressive Governors’ Forum (PGF), representing these governors, appealed to Nigerians to unite in support of the government’s decision.
Concerns over Sudden Increase in Fuel Price
Following a meeting with President Tinubu, Hope Uzodinma, the PGF Chairman and Governor of Imo State, spoke on behalf of his colleagues.
While expressing their support for the fuel subsidy removal, Governor Uzodinma raised concerns about the abrupt surge in petrol prices after Tinubu’s inaugural speech on Monday.
He highlighted that despite the new price, fuel marketers were still selling old stock, leading to scarcity and price hikes.
Decision to Eliminate Fuel Subsidy
Uzodinma further explained that the decision to eliminate fuel subsidy was approved by the previous administration under President Muhammadu Buhari.
The approval was made through the National Economic Council, headed by former Vice President Yemi Osinbajo.
The government realized that sustaining the subsidy was no longer financially viable.
Optimism for the Future
Governor Uzodinma expressed optimism that the situation would improve when market forces come into play.
He also mentioned the expected positive impact of Dangote’s refinery, set to begin operations in June.
These factors are anticipated to alleviate the challenges associated with the subsidy removal.