FG committed to assuaging fuel price hike concerns, assures SGF
George Akume, the Secretary to the Government of the Federation (SGF), has reassured Nigerians that the government is actively working to alleviate the difficulties caused by the recent increase in the price of petrol.
Since the removal of petrol subsidies, the price of the commodity has skyrocketed. Previously sold at approximately N190 per litre, it has now surged to between N600 and N700 following President Bola Tinubu’s announcement that “subsidy is gone.”
Acknowledging the concerns of Nigerians, Akume emphasized the government’s responsiveness, stating, “As our team takes shape, I want to remind you all, @officialABAT came prepared – he came with a plan. He knows what to do, and he is doing it. He has nurtured this vision for decades and is now bringing it to life,” he tweeted, displaying confidence in the government’s preparedness.
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Addressing the fuel price increases, Akume asserted, “As a government, we have heard your cries, and I want to reassure you that we are working tirelessly to bring about solutions that ease the pain and normalize the situation. Our priority is to ensure you have the quality of life you deserve when you wake up. Thus far, we are on the right track.”
Terming the subsidy regime “regressive,” the SGF explained the necessity of ending it, stating, “To illustrate the unsustainability of the previous subsidy regime, annual subsidy payments due to inefficiencies in the oil and gas value chain amounted to a staggering $11 billion. It was not a viable approach, and decisive action was required. The President was resolute from day one.”
While imploring Nigerians to exercise patience, Akume assured them that “we are currently working on strategies to ensure that market forces play a role in normalizing pricing, all while implementing policies that enhance your lives and boost your earning power. We have a clear economic restoration plan, and I urge you to trust the process.”