The Senator representing Osun Central Senatorial District, Senator Ajagunnla Olubiyi Fadeyi, has asked President Bola Ahmed Tinubu to establish the National Subsidy Fund.
Fadeyi also said the move will go a long way in impacting positively on the different facets of human life in the country.
Fadeyi said: “This will help government to introduce subsidy for food, agriculture, transportation, education and other meaningful infrastructural projects that will impact on Nigerians, especially income support scheme for the youths that are out of jobs.”
Speaking on the state of the nation, Fadeyi hailed Tinubu for saving almost N200 billion monthly from the federal allocation.
Fadeyi however called on President Tinubu to, as a matter of urgency, convene a national stakeholders forum to proffer lasting solutions to the challenges bedevilling the country.
Fadeyi, while also hailing President Tinubu for providing palliatives to Nigerians, expressed surprise over the non remittance of the reliefs to the beneficiaries.
He noted that the situation in the country has reached a stage where leaders must come together and fix the issues bedevilling the nation. Fadeyi said: “I would say, it’s dire and I can confirm that with all sense of responsibility. As representatives of our people, we are closer to the masses at every level, so we feel the peoples plight much more easily than any other politician. Is it the escalating cost of living or growing insecurity or weakening local currency, which invariably worsens inflation or even the biting impact of removal of fuel subsidy?
“I think the president needs to call for a stakeholders engagement as a matter of urgency, a no-holds-barred, non-political, but frank conversation. A national stakeholder’s engagement of this nature needs to be led by the president himself. Actionable points must be agreed at such a forum to address the most urgent predicaments that face the country at this time.”
Fadeyi also said there was the need to review the way the drivers and managers of the palliatives have been carrying out the projects, even as he lamented why they are not achieving the intended results.
Fadeyi further advocated for tough decisions to be taken to save Nigerians from the worsening economic situation.
“To be honest, very courageous decisions may need to be reached, if we must save our men and women from starvation, businesses from shutting down, and unemployment from worsening.
“For example, if it requires reversing the subsidy removal policy, so be it! Why not reverse it, and fix the corruption along the supply chain instead? If this happens, this will stem inflation.
“We all know that energy cost is the most significant cost incurred by any business, regardless of size. Food costs will be reduced. So, at least, people can eat. The labour unrest will also reduce as the conversation around salary increment would be unnecessary,” Fadeyi stated.
Fadeyi however said that there were no quick fixes to the problems faced by the country, even as he emphasised the need to take decisive actions to address the challenges.
“There are no quick fixes, no doubt. Some of the inconveniences we are going through did not start overnight, it’s been building up, so you can’t expect any quick results, the present leadership is not going to turn to magicians, but we can keep things from escalating at least and then walk backward from there,” Fadeyi opined.
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