A non governmental organization in Kwara State, the Rising Child Foundation (RCF), has called on the Federal Government to conduct a comprehensive review of existing palliative measures to address inefficiencies and ensure transparency in disbursement mechanisms.
Taibat Hussain, the Executive Director of RCF, ably represented by Ruth Adeosun, highlighted the recommendations while addressing a press conference in Ilorin, where she unveiled the organisation’s research report on the impact of fuel subsidy removal in Nigeria.
She disclosed that the research, which was conducted in partnership with the Brain Builders Youth Development Initiative (BBYDI), sought to “assess the impact of fuel subsidy removal and, more importantly, to develop data-driven practical interventions to mitigate its impact on Nigerians.”
The research, according to her, was funded by LEAP Africa and the Nigeria Youths Future Fund (NYFF).
The NGO boss said while President Tinubu’s decision to stop fuel subsidy payment was essential for long-term fiscal stability and sustainable economic growth, it has triggered hardship and pains for Nigerians, particularly the vulnerable segment of the society.
She noted that her organisation’s research findings showed that majority of Nigerians being low-income earners, are finding it difficult to cope with the negative effects of the subsidy removal, ranging from rising cost of living, increased transportation costs and surge in the prices of essential commodities, stressing that the situation could lead to increased poverty levels in the country, if not properly addressed.
To mitigate the impacts of the subsidy removal on the masses, the RCF recommended that the federal government should explore innovative and cost-effective transportation solutions, prioritize job creation for the teeming unemployed youth, and establish a support system for small and medium scale businesses, offering low-interest loans, subsidies, or tax breaks to help them adapt to the new economic environment.
It equally advised the government to invest in alternative energy sources to reduce Nigerians’ dependence on generators that require fuel to power.
She therefore recommended to the government, supplementary interventions that could be implemented to mitigate the impacts of the subsidy removal on Nigerians.
She equally advised the government to invest in alternative energy sources to reduce Nigerians’ dependence on generators that require fuel to power.
