Former Vice President and Peoples Democratic Party (PDP) presidential candidate Atiku Abubakar commented on the controversy surrounding President Bola Tinubu’s removal of a subsidy, claiming that his party had initiated the removal but would have offered palliatives. Atiku, who described Tinubu’s administration as a “temporary government,” expressed certainty that he would successfully defend his “stolen mandate” in court.
Atiku criticized the Tinubu-led government’s strategy for removing subsidies while speaking to PDP leaders elected in the 2023 general election on Saturday in Bauchi State.
“The PDP government started removing petroleum subsidies between 1999 and 2007, and I served as the committee’s chair during that time. We removed subsidies in two phases, but only after giving palliatives to those who would be most negatively impacted, he said.
“As a party, we have experience in governing. That is what we would have done rather than simply announcing the elimination of subsidies without consulting the affected economic sectors. Nigerians, in my opinion, ought to be grateful for what they have momentarily lost.
Atiku, who called Tinubu’s government a “temporary government,” expressed confidence that he will successfully defend his “stolen mandate” in court.
He urged the PDP candidates who won seats in the National Assembly to not be “rubber stamp members of the National Assembly,” adding that “you are there to serve as a formidable opposition to this temporary administration.”
Accordingly, they must get ready to function as an efficient, constructive opposition while simultaneously getting ready for potential duties as the majority party if the cases are resolved, he said. So to speak, a government is waiting. To produce significant outcomes and to stay connected to your roots, your constituency, and other stakeholders, you must remain steadfast, avoid working independently of one another, and constantly work as a team.
He continued, “I like the statement the governor of Oyo State made today here; let us not let our egos blind our vision of what a political party is and what we should be doing for our party’s growth and our country’s development.”
According to Kale, the new gas price might raise inflation to 30% in June.
Yemi Kale, a partner and chief economist at KPMG Nigeria, has stated that the increased petrol prices may increase Nigeria’s inflation rate by as much as 6%.
The Consumer Price Index (CPI), which tracks changes in the pricing of goods and services, increased to 22.22 percent in April 2023, marking Nigeria’s inflation rate’s fourth straight increase since the year’s beginning.
According to Kale, who examined the effects of the new gasoline price on the nation’s inflation rate, the rate might reach 30% in June 2023.
The CPI for May, according to the previous statistician general of the National Bureau of Statistics (NBS), will not be influenced.
The higher gasoline prices “may add about six percent to the CPI in June over whatever was reported in May, holding other things constant,” he tweeted. “Using the NBS CPI model and my macro model.”
“April had a 22.22 percent reading, while May is unknowable and unaffected. Therefore, June will be somewhere around 30%. Not as horrible as I had anticipated.