The Nigerian Presidency introduced that an estimated N5.4 trillion in financial savings from subsidy elimination in 2024 is being directed in the direction of infrastructure and social intervention applications geared toward benefiting all tiers of presidency and enhancing Nigerians’ high quality of life.
This was acknowledged by the Particular Adviser to the President on Data and Technique, Mr. Bayo Onanuga, in a press launch titled, Time for Atiku Abubakar to Finish His Grand Illusions and Fantasies, issued on Sunday.
Mr. Onanuga disclosed that the subsidy elimination financial savings would help key improvement tasks, emphasizing that these funds are actively allotted for tasks designed to raise the residing requirements of Nigerians and bolster nationwide infrastructure.
“The estimated N5.4 trillion financial savings from subsidy elimination in 2024 are being actively directed towards infrastructure improvement and social intervention programmes, initiatives that may profit all tiers of presidency and improve Nigerians’ high quality of life,” he acknowledged.
The choice aligns with President Bola Tinubu’s technique of income reinvestment to stimulate financial progress, and the initiatives are anticipated to embody tasks throughout transport, healthcare, and training, with plans to boost each city and rural infrastructure.
Addressing latest criticisms from Atiku Abubakar, the previous Vice President and the presidential candidate of the Folks’s Democratic Party (PDP), Mr. Onanuga advised that Atiku ought to acknowledge the administration’s efforts in income technology for the Federation and the course of the subsidy financial savings in the direction of transformative initiatives.
“It’s anticipated of the previous Vice President and Presidential Candidate of the Folks’s Democratic Party, Atiku Abubakar, to commend the Tinubu administration over income technology for the Federation,” Mr. Onanuga acknowledged.
Onanuga famous that President Tinubu’s administration is prioritizing refinery revitalization, aiming to cut back dependence on imported gasoline and foster native manufacturing.
This includes help for modular refineries and the operations of the brand new Dangote Refinery, which is predicted to bolster Nigeria’s gasoline manufacturing capability considerably.
“The mannequin of farming the utterly rehabilitated refineries to non-public sector managers at an agreed-upon charge of return to the federal government, as adopted by Tinubu’s authorities, is extra sensible and value-laden than promoting our nationwide patrimony to some personal pursuits that aren’t technically able to working the refineries.
The Tinubu administration focuses on revitalising these refineries whereas supporting modular refineries and the Dangote Refinery, which has better capability,” he stated
In his assertion, Mr. Onanuga additionally responded to latest criticisms from Atiku, urging him to interact in constructive discussions slightly than perpetuating political distractions.
