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Reject IMF stance on fuel, electricity subsidies, PRP urges Tinubu
Reject IMF stance on fuel, electricity subsidies, PRP urges Tinubu
The Peoples Redemption Party (PRP) has urged the All Progressives Congress-led (APC) federal government to resist the International Monetary Fund’s (IMF) pressure to eliminate fuel and electricity subsidies.
The party stated on Tuesday that removing the subsidies would only exacerbate the plight of Nigerians who are already suffering as a result of President Bola Tinubu’s government’s removal of fuel subsidies and devaluation of the naira.
The statement, signed by the party’s acting national publicity secretary, Muhammed Ishaq, urged the Federal Government to prioritize Nigerians’ welfare.
“As a sovereign state, Nigeria should not dance to the IMF’s tunes but take decisions that will benefit the citizenry positively.
“This (IMF’s) recommendation, in our view, is insensitive and inconsiderate, particularly at a time when Nigerians are grappling with the worst economic hardship since the Nigerian State came into being as a direct consequence of last year’s fuel subsidy removal and massive devaluation of the national currency.
“As a sovereign nation, Nigeria should be able to decide on policies that are guaranteed to promote the overall wellbeing of its citizens without any dictations from neoliberal and neocolonial organisations such as the IMF and World Bank who mostly are out to service the profit motives of multinational corporations and the Western powers at the expense of our long-suffering people.
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“The federal government must prioritize the welfare of Nigerians and consider the socio-economic implications of removing these subsidies. The sudden removal of fuel subsidies and massive devaluation of the national currency last year by the Bola Ahmed Tinubu administration on the day he came to power led to a spike in the cost of living, causing undue hardship for millions of citizens who are already struggling to make ends meet. Phasing out electricity subsidies will only exacerbate this situation further,” he said.
The party said instead of removing these essential subsidies, the government should focus on addressing the root causes of inefficiency in the fuel and power sectors, including tackling massive corruption in the two sectors, promoting transparency and investing in infrastructure to improve the delivery of these services to the citizens.
He said, “We, in the PRP, call on the federal government to stand firm in its responsibility to protect the interests of its citizens. We urge them to explore alternative measures that can address the nation’s financial challenges without subjecting Nigerians to further economic suffering.
“We would like to warn the IMF and the legion of its surrogates and parrots on the corridors of power in Nigeria to be aware that the good people of this country are carefully monitoring their nefarious antics and may be forced to respond appropriately should these surrogates, now temporarily in power, go ahead with any of these anti-people policies and programmes.
“We urge the Federal Government of Nigeria to listen to the Nigerian citizens that are already crying, rather than the voices of any or both of the Bretton Woods sisters of the IMF and World Bank whose advice has for decades put the Nigerian masses in hardships,” the statement added.
Reject IMF stance on fuel, electricity subsidies, PRP urges Tinubu
News
Just in: Tinubu swears in Rivers Sole Administrator Ibas
Just in: Tinubu swears in Rivers Sole Administrator Ibok-ete Ibas
President Bola Tinubu has sworn in Vice Vice Admiral Ibok-ete Ibas (Retd.) as the Sole Administrator of Rivers State.
The administrator was sworn in on Wednesday after a short meeting with the President.
Tinubu announced the appointment of the retired naval chief at a nationwide broadcast on Tuesday, when he declared a state of emergency in Rivers State and suspended Governor Siminalayi Fubara, Deputy Governor, Ngozi Odu, and the state House of Assembly members.
The President said his decision was based on Section 305 of the 1999 Constitution, saying he could not continue to watch the political situation in Rivers escalate without taking concrete action.
The suspension of Fubara and other elected representatives has been rejected and condemned by many eminent Nigerians, legal luminaries, groups such as Atiku Abubakar, Peter Obi, Femi Falana, the Labour Party (LP), the Peoples Democratic Party (PDP) and the Nigerian Bar Association.
However, the emergency rule has been praised by the pro-Nyesom Wike Assembly led by Martins Amaewhule, accusing Fubara of contravening the Supreme Court ruling on the political situation in the state.
Ibas was the Chief of Naval Staff from 2015 to 2021.
He is from Cross River State where he had his early education.
The new sole administrator went to the Nigerian Defence Academy in 1979 from where he proceeded to have a successful career in the Navy, rising through the ranks to the very top.
He is a member of the Nigerian Institute of International Affairs (NIIA) and the Nigerian Institute of Management.
President Muhammadu Buhari who appointed him as Chief of Naval Staff conferred him with the National Honour of Commander of the Federal Republic (CFR) in 2022.
News
Breaking: Tinubu declares state of emergency in Rivers State
Breaking: Tinubu declares state of emergency in Rivers State
President Bola Tinubu on Tuesday night declared a state of emergency in Rivers State following the protracted political crisis in the state.
Tinubu made the declaration during a nationwide broadcast, saying it is for six months.
He announced the suspension of the Executive Governor, Siminalayi Fubara, his deputy and all the members of the House of Assembly for six months.
He immediately named an administrator, Vice Admiral Ibok-Ete Ibas (Retd), to take charge of the affairs of the state for the six-month period.
Section 305 of the 1999 Constitution interprets a state of emergency as a situation of national danger or disaster in which a government suspends normal constitutional procedures to regain control.
A state of emergency allows the President to immediately make any desired regulations to secure public order and safety. (Channels TV)
News
BREAKING: Tinubu addresses Nigerians on Rivers political crisis
BREAKING: Tinubu addresses Nigerians on Rivers political crisis
President Bola Tinubu on Tuesday night will hold a nationwide broadcast to address the crisis in Rivers state.
Bayo Onanuga, special adviser to the president on information and strategy, said the broadcast will be transmitted by the Nigerian Television Authority (NTA) and the Federal Radio Corporation of Nigeria (FRCN).
The broadcast is expected to be held by 7pm today.
Video: President Tinubu has declared state on emergency on Rivers state effective immediately, suspends Governor Fubara, his deputy governor and house of assembly members for six months.
He also nominated an administrator pic.twitter.com/jD1g9FHOez— Nigeria Stories (@NigeriaStories) March 18, 2025
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