Vice President Kashim Shettima has outlined the need to remove fuel subsidy from Nigeria’s economy.
While fielding questions from State House reporters after resuming office at the Presidential Villa, Abuja, on Tuesday, May 30, Shettima said they expected stiff opposition from people benefitting from the subsidy scam following the announcement of its removal yesterday, May 29, by President Bola Tinubu.
He said;
“The president has already made pronouncements yesterday on the issue of the fuel subsidy. The truth of the matter is that it is either we get rid of subsidy or the fuel subsidy gets rid of the Nigerian nation. In 2022, we spent $10billion subsidizing the ostentatious lifestyle of the upper class of the society because you and I benefit 90% from the oil subsidy. The poor 40% of Nigerians benefit very little. And we know the consequences of unveiling a masquerade.
“We will get fierce opposition from those benefitting from the oil subsidy scam. But where there is a will, there is a way. Be rest assured that our president is a man of strong will and conviction. In the fullness of time you will appreciate his noble intentions for the nation. The issue of fuel subsidy will be frontally addressed. The earlier we do so, the better.”
On exchange rate, Shettima said;
“The issue of multiple exchange rates, we are going to collapse it into one. So these are two big elephants in the room and as the days go by we will be unveiling our agenda. He is going to unveil his agenda because as I have always said there can never be two captains in a ship. “He is the president and commander-in-chief of the armed forces. I’m the vice president. Your relevance is directly proportional to the level of your loyalty to the president. This is a gentleman that I have known for well over a decade; that I have interacted closely with. Be rest assured that we are going to work harmoniously as a team, as a family for the greater good of our nation.”