PRP to APC: Reject IMF’s recommendations on fuel, electricity subsidies removal

The leadership of the Peoples Redemption Party (PRP) has warned the All Progressive Congress-led Federal Government not to succumb to the pressure from the International Monetary Fund (IMF) to phase out fuel and electricity subsidies completely.

Removing the subsidies, according to the party, would rather compound the woes of Nigerians who are already going through harrowing and trying times as a result of fuel subsidy removal and devaluation of the naira by the President Bola Tinubu’s government.

While calling on the Federal Government to make the welfare of Nigerians its priority, the PRP added that as a sovereign state, Nigeria should not dance to IMF’s tunes but take decisions that will benefit the citizenry positively.

A statement signed by the party’s acting national publicity secretary, Comrade Muhammed Ishaq, and made available to Tribune Online read, “The Peoples Redemption Party (PRP) vehemently urges the Federal Government of Nigeria to disregard and reject the International Monetary Fund’s (IMF) recommendation to phase out fuel and electricity subsidies completely. This recommendation, in our view, is insensitive and inconsiderate, particularly at a time when Nigerians are grappling with worst economic hardship since the Nigerian State came into being as a direct consequence of last year’s fuel subsidy removal and massive devaluation of the national currency.

“As a sovereign nation, Nigeria should be able to decide on policies that are guaranteed to promote the overall wellbeing of its citizens without any dictations from neo-liberal and neo-colonial organisations such as the IMF and World Bank who mostly are out to service the profit motives of multinational corporations and the Western powers at the expense of our long suffering people.

“The Federal Government must prioritize the welfare of Nigerians and consider the socio-economic implications of removing these subsidies. The sudden removal of fuel subsidies and massive devaluation of the national currency last year by the Bola Ahmed Tinubu administration on the day he came to power led to a spike in the cost of living, causing undue hardship for millions of citizens who are already struggling to make ends meet. Phasing out electricity subsidies will only exacerbate this situation further.

“Instead of removing these essential subsidies, we propose that the Federal Government focuses on addressing the root causes of inefficiency in the fuel and power sectors. This includes tackling massive corruption in the two sectors, promoting transparency, and investing in infrastructure to improve the delivery of these services to the citizens.

“We, in the PRP, call on the Federal Government to stand firm in its responsibility to protect the interests of its citizens. We urge them to explore alternative measures that can address the nation’s financial challenges without subjecting Nigerians to further economic suffering.

“In conclusion, we would like to warn the IMF and the legion of its surrogates and parrots on the corridors of power in Nigeria to be aware that the good people of this country are carefully monitoring their nefarious antics and may be forced to respond appropriately should these surrogates now temporarily in power, go ahead with any of these anti-people policies and programmes.

“We urge the Federal Government of Nigeria to listen to outcry of the Nigerian citizens that are already crying rather than the voices of any or both of the Bretton Woods sisters of the IMF and World Bank whose advice have for decades now put the Nigerian masses in hardships.“


Tribune Online