Fuel Subsidy Removal: RCF Calls for Review, Makes More Recommendations
0
0
Fuel Subsidy Removal: RCF Calls for Review, Makes More Recommendations
By Kaosara Olayemi Oladimeji
Nigerians are grappling with the repercussions of fuel subsidy removal, prompting the Rising Child Foundation (RCF) to call for a thorough review of existing palliative measures by the Federal Government to ensure transparency and efficiency in disbursement mechanisms.
In a press conference held in Ilorin, the Kwara state capital on Tuesday, Taibat Hussain, the Executive Director of RCF, stressed the need for immediate action, stating: “It is crucial for the government to explore innovative and cost-effective transportation solutions that can alleviate the burden on the population.”
Hussain further emphasized the impact on vulnerable segments of society, stating: “President Tinubu’s decision to stop fuel subsidy payment was essential for long-term fiscal stability and sustainable economic growth, but it has triggered hardship and pains for Nigerians, particularly the vulnerable segment of the society.”
READ ALSO: ASKOMP Lauds IEYDA for Gifting Members Laptops
The RCF, in collaboration with the Brain Builders Youth Development Initiative (BBYDI), conducted research funded by LEAP Africa and the Nigeria Youths Future Fund (NYFF) to assess the impact of fuel subsidy removal.
Ruth Adeosun, representing Hussain at the event, highlighted key findings, stating: “Majority of Nigerians being low-income earners, are finding it difficult to cope with the negative effects of the subsidy removal, ranging from rising cost of living, increased transportation costs and surge in the prices of essential commodities.”
To mitigate these impacts, the RCF recommended that the federal government prioritize job creation, explore innovative transportation solutions, and invest in alternative energy sources.
Adeosun elaborated on these recommendations, suggesting: “The government should consider providing specific incentives or subsidies for public transport operators to maintain fare stability and minimize the impact on daily commuters.”
Furthermore, the organization urged the government to engage citizens in decision-making processes and develop tailored policies to address challenges faced by vulnerable groups.
Adeosun stressed the importance of inclusivity, stating: “Actively seeking public input and participation establishes a foundation of trust, enriches the policymaking process with valuable insights, and contributes to informed and inclusive governance.”
The Rising Child Foundation, therefore, advocated for a comprehensive, compassionate, and collaborative approach to address the multifaceted challenges arising from Nigeria’s fuel subsidy removal.
