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Adams Oshiomhole, a senator-elect and former governor of Edo State, has ruled out the prospect of the federal government reducing the price of petrol from N488 and N557 per liter to N194.
Oshiomhole stated that the 2023 budget does not include funding for fuel subsidies after May 31st during an appearance on Channels Television on Sunday.
Oshiomhole backed President Bola Tinubu's decision, saying that other presidential contenders might have followed suit if they had won the February 2023 poll. President Bola Tinubu announced the expulsion on Monday of last week.
"I think Nigerians are aware that the budget for this year did not include funding for subsidies through 2023," he remarked. In June, it was over.
"All of the front-runners for president had made the subsidy removal a campaign pledge. I recall Peter Obi, who was running at the time, promising to get rid of it right away. Bola Tinubu and Atiku Abubakar both made the same statement.
"The question is not whether you have revenue; if Nigeria saves about N7 trillion by eliminating subsidy, there is no doubt that you can take some of that and put it in other sectors because those savings will go to the federation account which will be distributed among the three tiers of government."
While it continues to negotiate over the latest hike, the Trade Union Congress, TUC, on Sunday demanded the FG to return to the previous gasoline pump price of N194 per litre.
In an effort to lessen the impact of the loss of the fuel subsidy on Nigerians, the union also requested that the government examine the present minimum wage.
The demands were presented during the rescheduled meeting with the government on Sunday night at the State House in Abuja.
