Fuel subsidy: Oshiomhole rules out return to the former price, while the TUC demands N194 per liter

Adams Oshiomhole, a former governor of Edo State and current senator-elect, has ruled out the possibility of the Federal Government reversing the current petroleum pump price from N488 to N557 per litre to N194.

Sunday, while appearing on Channels Television, Oshiomhole stated that the 2023 budget does not provide for petroleum subsidies beyond May 31.

Oshiomhole supported the decision of President Bola Tinubu, who declared the removal on Monday of last week, and stated that other presidential candidates might have made a similar move if they had won the 2023 election.

He stated, “I believe Nigerians are aware that the budget for this year did not account for subsidies through 2023. It was concluded in June.

“During the campaign season, all of the prominent presidential candidates resolved to eliminate the subsidy. I recall then-candidate Peter Obi stating that he would remove it on the very first day in office. Atiku Abubakar and Bola Tinubu said the same thing.

“The issue is not whether you have revenue; if Nigeria is going to save approximately N7 trillion by removing subsidy, then there is no question that you can allocate a portion of that to other sectors because those savings will go to the federation account, which will be distributed among the three levels of government.”

The Trade Union Congress, TUC, demanded on Sunday that the FG revert to the previous petrol pump price of N194 per litre while it negotiates the recent increase.

In an effort to mitigate the impact of the elimination of the petrol subsidy on Nigerians, the union also requested a review of the minimum wage.

The demands were made during the rescheduled meeting with the government on Sunday evening at the State House in Abuja.