Fuel Subsidy Removal - Trailing Reactions.

Fuel Subsidy Removal - Reactions Of Nigerians.

*Fuel subsidy removal, ill timed – IBB.

Ibrahim Babangida
"The issue of subsidy should be seen more as politics and not economics, because the sole purpose of government is for the good of the people and not to create hardship. It is better to seek political solution to the subsidy discourse than invoking the sentiments of economics. Government should have kept its word till April by which time better explanation would have been given before implementation takes effect".
At last the general speaks; In-spite of his silence over Bokoharam. 

*Fuel Subsidy Removal; W'ell Stand By The Masses - Reps. 
          The black market is back: Hawkers along
Kashia road,  Kaduna , earlier today  In his reaction, the chairman of the House committee on capital market and institutions, Hon. Herman Hembe described the action of the executive as ‘wicked and out of tune with the realities of poverty that faces our people.


Fuel Subsidy Removal; FG sets up "C'ttee on Fuel Subsidy" - Headed by Justice Alfa Belgore

Former Chief Justice of Nigeria, Justice Alfa Belgore

President Goodluck Jonathan yesterday set up a committee, headed by a former Chief Justice of Nigeria, Justice  Alfa Belgore, to meet with organised labour and other stakeholders with a view to resolving issues that may arise from the controversy. 

Jonathan also appointed Dr. Christopher Kolade as Chairman of the Subsidy Re-investment and Empowerment Programme Board, (SREPB), which is to oversee and ensure the effective and timely implementation of projects to be funded with savings accruing to the Federal Government from the removal with Major-General Mamman Kontagora, rtd, as deputy chairman.

Other members of the SREPB  include two representatives of the National Assembly, two representatives of organised labour, while the National Union of Road Transport Workers, NURTW,  Nigeria Union of Journalists, NUJ, Nigerian Women Groups, the Nigerian youth, and civil society organisations have one representative each.

They also include the coordinating Minister of the Economy/Minister of Finance, the Minister of National Planning, the Minister of Petroleum Resources, the Minister of State for Health, Special Adviser to the President on Technical Matters, and six other reputable individuals from the six geo-political zones in the country, out of which three will be women.
A statement signed by Presidential spokesman, Dr. Reuben Abati, said “the mandate of the Board shall be to oversee the fund in the petroleum subsidy savings account, and the programme specifically to improve the quality of life of Nigerians in line with the transformation agenda of Mr. President.

 Approval of annualwork plans

”The Board will have the following responsibilities: Determine, in liaison with the Ministry of Finance and Ministry of Petroleum Resources, the subsidy savings estimates for each preceding month and ensure that such funds are transferred to the Funds’ Special Account with the Central Bank of Nigeria, CBN, approve the annual work plans and cash budgets of the various Project Implementation Units, PIUs, within the Ministries, Departments and Agencies, MDAs, and ensure orderly disbursement of funds by the PIUs in order to certify and execute projects; and monitor and evaluate execution of the funded projects, including periodic Poverty and Social Impact Analyses, PSIA.

”Update the President regularly on the programme; periodically brief the Executive Council of the Federation, ECF, on the progress of the programme; appoint consulting firms with international reputation to provide technical assistance to the board in financial and project management; appoint external auditors for the fund; do such other things as are necessary or incidental to the objective of the fund or as may be assigned by the Federal Government.”

It added that members of the committee would meet with organised labour, civil society groups and other stakeholders, such as the Chairman of the Governors’ Forum, Governor Rotimi Amaechi of Rivers State, Governor Babangida Aliyu of Niger State, Governor Peter Obi of Anambra State, Governor Adams Oshiomhole of Edo State and Governor Sule Lamido of Jigawa State.

The committee, which is expected to begin work immediately, also includes Minister of Finance and Coordinating Minister of the Economy, Mrs. Ngozi Okonjo-Iweala; Minister of Petroleum Resources, Mrs. Diezani Allison-Madueke; Minister of Labour and Productivity, Chief Emeka Wogu; Special Adviser to the President on Inter-Party Affairs, Senator Ben Obi and Mrs. Ngozi Olajemi.



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