Oshiomhole rules out return to old price, as TUC insists on N194/liter

Date:

June 5,2023.

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

Oshiomhole, who spoke while featuring on Channels Television on Sunday, said the 2023 budget does not provide for fuel subsidy beyond May 31st.

Backing the decision of President Bola Tinubu who announced the removal on Monday last week, Oshiomhole said it was a move other presidential candidates may have made if they had won the February 2023 election.

He said, “I think Nigerians are aware that this year’s budget did not provide for subsidy throughout 2023. It ended in June.

“All the leading presidential candidates had during the electioneering season agreed to remove the subsidy. I remember the then candidate, Peter Obi saying he would remove it the very first day. Atiku Abubakar and Bola Tinubu said the same thing.

The issue is not whether you have revenue, if Nigeria is going to save about N7 trillion by removing subsidy, then there is no question that you can take part 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”.

Meanwhile, the Trade Union Congress, TUC on Sunday asked the FG to revert to the old petrol pump price of N194 per litre while it continues to negotiate over the recent increase.

The union also asked the government to review the current minimum wage in a bid to cushion the effect of the petrol subsidy removal on Nigerians.

The demands were made at the reconvened meeting with the government held at the State House in Abuja, Sunday evening.(www.naija247news.com)

 

Peter Okafor
Peter Okaforhttp://Naija247news.com
Peter Okafor Financial Journalist | Editor | Contributor Overview: Peter Okafor is a seasoned Financial Journalist, astute Editor, and valued Contributor at Naija247news Media Group. With an unwavering passion for dissecting complex financial landscapes, Peter has become a trusted name in delivering incisive and insightful coverage of economic events, market trends, and corporate dynamics. Professional Journey Peter's journey in financial journalism has been marked by a commitment to excellence. Joining the ranks of Naija247news, he has consistently demonstrated a keen understanding of the intricate interplay between finance and the global socio-economic fabric. Expertise: Specializing in financial markets, economic analyses, and business developments, Peter Okafor has honed his expertise over the years. His ability to unravel intricate financial narratives and present them in a comprehensible manner sets him apart in the world of financial journalism. Contributions As an Editor and Contributor, Peter has played a pivotal role in shaping the narrative of Naija247news. His contributions extend to thought-provoking articles, in-depth market analyses, and coverage of key events that impact the financial landscape. Educational Background: Peter holds a degree in Journalism, complemented by specialized courses in Finance and Business Reporting. His educational foundation has provided him with the tools to navigate the intricate world of financial journalism. Innovation and Adaptability: In an era of evolving media landscapes, Peter Okafor exemplifies innovation and adaptability. Leveraging digital platforms and emerging technologies, he ensures that financial insights reach a diverse audience, fostering financial literacy and awareness. Awards and Recognition: Peter's commitment to journalistic excellence has not gone unnoticed. He has been the recipient of several awards, recognizing his outstanding contributions to the field of financial journalism. Vision for the Future: Looking ahead, Peter Okafor envisions a future where financial journalism continues to empower individuals, shape economic policies, and drive positive change. His dedication to staying at the forefront of financial news underscores his commitment to this vision. Connect with Peter Okafor: - LinkedIn: [Peter Okafor](#) - Twitter: [@PeterOkafor_N247](#) In the dynamic realm of financial journalism, Peter Okafor stands as a stalwart, combining experience, expertise, and a forward-looking vision to illuminate the path of financial understanding for a global audience.

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