Politics
Falana Urges Tinubu To Resist IMF Push For Fuel And Electricity Price Hikes
Falana Urges Tinubu To Resist IMF Push For Fuel And Electricity Price Hikes....KINDLY READ THE FULL STORY HERE▶
Chairman of the Alliance on Surviving Covid 19 and Beyond (ASCAB), Femi Falana, SAN, has urged President Bola Ahmed Tinubu to reject the International Monetary Fund’s (IMF) recommendation to increase fuel and electricity prices in Nigeria. In a statement personally signed and sent to Vanguard on Friday, Falana cautioned Tinubu against succumbing to the IMF’s anti-subsidy campaign in Nigeria, drawing a parallel with the IMF advising against tax cuts for UK Chancellor Jeremy Hunt……….CONTINUE READING
Falana highlighted a previous instance in November 2023 when Minister of Power, Adebayo Adelabu, disclosed that President Tinubu had halted the implementation of an electricity tariff hike and insisted on nationwide subsidy payments, citing the need for regular and incremental power supply before tariff adjustments. Despite rumors, the Nigerian Electricity Regulatory Commission (NERC) on January 1, 2024, denied plans for an electricity price increase.
Similarly, the Nigerian National Petroleum Corporation Limited, on February 8, 2024, stated that it had no intentions of raising petrol prices despite currency devaluation, urging Nigerians to disregard speculations. However, the IMF recently directed the Tinubu administration to eliminate fuel and electricity tariff subsidies promptly, citing subsidized rates being below market prices and the need for alignment with true market values.
Falana expressed skepticism about the government’s neoliberal stance, noting that the IMF had cautioned the UK Chancellor against tax cuts on January 30, 2024. The IMF emphasized the importance of fiscal consolidation and prioritizing spending in areas such as health, education, and climate change, contrasting with the expected tax cuts in the UK’s spring Budget.
For more information join our WhatsApp group by clicking the link here: WhatsApp Group Invite
For inquiries only, contact us at omoikirodahoshiobugie@gmail.com, 08075806790 (WhatsApp only). For paid articles covering content related to shows, music promotion, asylum letters, concerts, politics, advertisement hit up the Whatsapp number 08075806790.
Source: Bushradiogist
Chaos Erupts As Armed Police Disrupt Event At Gbenga Daniel’s House
Political Comeback: Ovie Omo-Agege Enters Delta Senate Race
Political Tension Rises As Supreme Court Rules On African Democratic Congress, Labour Party And Peoples Democratic Party Crises
Breaking: NMDPRA Praised For Preventing Aviation Fuel Crisis
Breaking: Bola Ahmed Tinubu Unveils Fresh Education Sector Appointments (Full List Released)
Breaking: Federal Government Of Nigeria Bans Cement Importation, Releases Full List Of Restricted Goods
Supreme Court Shocks Kano Emirate Case, Adjourns Hearing Till 2027
Here’s What Happened” — Ex-Army Chief Buratai Speaks On Borno Airstrike Tragedy
Succession Buzz: Olusi Reveals Who May Replace Sanwo-Olu In 2027
