Correspondent’s Report

Governor Alex Otti of Abia state said removal of fuel subsidy by the Federal Government is a commendable decision that will improve the economy of Nigeria.

As a guest Lecturer at the 63rd Founders Day of the University of Nigeria Nsukka UNN, Governor Otti said the implementation of the policy was long overdue.

Governor Otti who explained the false impression that fuel subsidies were primarily government assistance to the poor said there was clear evidence that poor Nigerians did not benefit as previously believed unlike other countries where governments strategically retained subsidies on essential products for the poor and encouraged a similar approach in Nigeria..

Governor Otti regretted the adverse impact of subsidy-driven imports on domestic refining investments and called for the development of a more comprehensive policy framework to support specific areas of need identified by the World Bank and suggested that measures such as subsidized mass transit, cash transfers, food assistance, and low-interest agricultural loans should have been considered to support the urban and rural poor indecent citizens.

He advocated for a reconsideration of the national minimum wage to reflect the current economic realities, emphasizing the importance of prioritizing the welfare of the population.

While sharing several initiatives by the Abia State government to mitigate the effects of fuel subsidy removal, such as tax holidays for micro, small, and medium enterprises, free medical services, Governor Otti announced the plans by his administration to alleviate the effects of fuel subsidy removal on Abia civil servants.

Otti announced the plans by his administration to alleviate the plight of fuel subsidy removal on Abia civil servants.

In an address, the Vice Chancellor of the Institution, Prof Charles A. Igwe said “the Founders Day celebration of the UNN is an annual event to commemorate the birth of the first Indigenous University in Oct 1960 by Dr Nnamdi Azikiwe. Governor Otti was chosen to deliver the 63rd lecture based on his uncommon achievements which would serve to inspire and motivate the staff, students and alumni of the Institution.”

Our Correspondent reports that the event which was chaired by Professor Elochukwu Amaucheazi was attended by the Governor of Enugu State Chief Peter Mbah represented by the Information
Commissioner Enugu Mr Aka Eze Aka amongst other dignitaries.

The theme of the event was Fuel Subsidy Removal: Dealing with the Challenges, Harnessing the Opportunities