Professor Urges Nigeria to Restore Fuel Subsidy, Ditch Multiple Taxation
Professor Sebastian Uremadu, a banking, finance, and financial economics expert, has advised the Nigerian government to promptly restore fuel subsidy and remove multiple taxation on goods and services to prevent nationwide protests. Speaking in an interview with Media Talk Africa, Uremadu highlighted that these measures would help alleviate the country’s economic woes and prevent the negative consequences of mass protests.
According to the Michael Okpara University of Agriculture professor, many Nigerians are currently going hungry, and reintroducing fuel subsidy and removing multiple taxation on goods and services before August 1 could deter people from participating in the planned protest.
Uremadu commended President Bola Tinubu’s efforts in nation-building, particularly with the signing of the South East Development Commission (SEDC). However, he emphasized that economic stability cannot be achieved without the proper restoration of fuel subsidy and management by a federal economic committee.
The professor expressed concerns about the potential consequences of mass protests in Nigeria, citing the negative effects experienced in Kenya. He urged President Tinubu to “align with the voice of the people” by restoring fuel subsidy and removing multiple taxation.
Uremadu also weighed in on the advice from Ohanaeze Ndigbo, suggesting that Igbos should not participate in the nationwide protest due to concerns over potential hijacking by hoodlums. He mourned the passing of Emmanuel Iwuanyanwu and expressed hope that the recently signed SEDC would transform the South East zone.
When asked about allegations that Peter Obi was behind the planned protests, Uremadu rejected the claims and warned against reducing the issue to religious and tribal sentiment. He called on African leaders to emulate United States President Joe Biden by respecting the popular wish of the people.
As Nigeria’s economic challenges continue to grow, the call for urgent action is getting louder. Will the government heed the professor’s advice and take steps to alleviate the nation’s financial woes? Only time will tell.
