The Youth Party has demanded that the All Progressive Congress-led Federal Government, should provide palliatives to the masses from the 30 per cent increase in FAAC disbursements to the three tiers of government especially in order to avert the impending NLC strike.
The party in a statement issued by its National Publicity Secretary, Ayodele Adio, noted that President Bola Tinubu’s independent speech failed to appeal to NLC to call off the impending strike or state quantifiable and time-bound interventions that can address the current hardship faced by Nigerians.
Ahead of the indefinite strike announced by the organised labour, the Youth Party has accused the Federal government of applying a slow and unserious cosmetic “rice sharing” approach to a situation that demands a robust sustainable economic way forward.
According to the party, President Tinubu’s administration removed petrol subsidy without any plan to protect the young, poor and vulnerable from the economic impact.
The party noted that despite the increase in the monthly revenue of the government since June, it has not translated into any serious effort towards affordable public transport, education or public health systems for the masses.
Consequently, the party demanded that the APC-led Government provide palliatives to the masses from the 30 per cent increase in FAAC disbursements to the three tiers of government5 to avert the impending NLC strike.
The party noted that the Federation Account Allocation Committee (FAAC) disbursement was N786.16bn in May and N1.11trn in August 2023.
It added that the disbursements have witnessed a steady increase since the removal of fuel subsidy upon assumption of office of the current administration, adding that it went from N786.16bn in May to N907.054 bn in June, N966.12bn in July and N1.11trn in August 2023.
“An increase of over 30 per cent from the pre-subsidy removal FAAC shared revenue. These increases are direct savings from the removal of the fuel subsidy that used to gulp about 400bn per month before the removal of the subsidy.
“Unfortunately, the savings have not translated into any serious effort towards affordable public transport, education or public health systems for the masses.
“The proposed NLC industrial action to pressure the Government to act and protect the masses from economic impact of the policy is an action supported by the Youth Party. However, we caution the NLC to take a creatively pragmatic approach that would not compound the economic hardship currently being experienced by the masses. We frown at an indefinite strike.
“Sadly, the President Tinubu-led administration removed the petrol subsidy without any plan to protect the young, poor and vulnerable from the economic impact of its said policy on 29th May, 2023. First, the APC Government took about 80 days to announce palliative measures on 17th August since 29th May 2023. The Government had no plan for the masses before the removal of fuel subsidy.
“The policy was an afterthought at best as the Government merely gave an unserious N5billion loan to each state, which in turn led to a rice sharing galore across the Country. The removal of the petrol subsidy by the Government without any plan to cushion the blow on the masses has led to intolerable hardships. Petrol is part and parcel of the Nigerian way of life. Small businesses, homes, hospitals, school children and individuals are dependent on petrol for their day-to-day activities in the absence of a constant power supply.
“Today, President Tinubu failed to appeal to NLC to call off the impending strike in his independence speech or state quantifiable and time-bound interventions that can address the current hardship faced by Nigerians. The N25,000 to the lowest grade of civil servants excludes the majority of poor Nigerians. No time frame or urgency was spelt out for the promised affordable CNG buses.
“The President mentioned the procurement of buses but failed to provide crucial details. Nigerians deserve to know how many buses will be procured, how they will be deployed, and when they will hit the road.
“The State Support Infrastructure Fund raises several questions. What does this fund entail? What kind of infrastructure does it target? Who decides which infrastructure projects to fund, and do states receive a flat rate? Furthermore, how will this fund be financed, especially considering the potential impact of subsidy removal?”
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