The Peoples Redemption Party (PRP) has advised the Federal Government to reject the advice of the International Monetary Fund (IMF) to phase out petrol and electricity subsidy.
The PRP acting National Publicity Secretary, Mr Muhammed Ishaq, gave the advice in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja.
Ishaq said that the recommendation was insensitive and inconsiderate on the plights of Nigerians.
“The recommendation is insensitive and inconsiderate, particularly at a time like this when Nigerians are grappling with the worst economic hardship as a direct consequence of last year’s fuel subsidy removal and devaluation of the naira.
“As a sovereign nation, Nigeria should be able to decide on policies that are guaranteed towards the promotion of the overall wellbeing of its citizens without any dictations from external interest.
“Those who mostly were out to service the profit motives of multinational corporations and the Western powers at the expense of our long suffering people should realize the implication,’’ he said.
Ishaq called on the federal government to prioritise the welfare of Nigerians and consider the socio-economic implications of removing the subsidy.
He said that phasing out electricity subsidy completely would only exacerbate the hardship of Nigerians.
“Instead of removing the essential subsidy, we propose that the federal government should focus on addressing the root causes of inefficiency in the supply of fuel and power service.
“This includes tackling massive corruption in the two sectors, promoting transparency, and investing in infrastructure to improve the delivery of these services to the citizens.
“We, in the PRP are calling on the federal government to stand firm in its responsibility to protect the interests of its citizens.
“We urge FG to explore alternative measures that could address the nation’s financial challenges without subjecting Nigerians to further economic suffering,” he said.