Professor Sebastian Urummadu, a Financial Economist, has advised the Federal Government to restore the fuel subsidy and end multiple taxation, asserting that these measures would stabilize the economy.
He also urged the Nigerian Labour Congress (NLC) to focus its demands on the restoration of the fuel subsidy and the cessation of multiple taxation.
Speaking to journalists in Umuahia on Sunday, Professor Urummadu, from Michael Okpara University of Agriculture, Umudike, suggested that instead of removing the subsidy, the government should have constituted a better subsidy management team to oversee it.
Urummadu expressed concern over the rising levels of hunger and suffering among the masses, noting that the situation has exacerbated insecurity in Abia and other parts of the country.
“Even if you pay a worker one million naira per month, it will not still solve the workers’ problem. There are many things indirectly built to pay back the workers. Bring back the fuel subsidy so that the cost of transportation and cost of things will reduce”, said the Professor.
Professor Sebastian Urummadu, a Financial Economist, has advised the Federal Government to restore the fuel subsidy and end multiple taxation, asserting that these measures would stabilize the economy.
He also urged the Nigerian Labour Congress (NLC) to focus its demands on the restoration of the fuel subsidy and the cessation of multiple taxation rather than high salary demands.
Speaking to journalists in Umuahia on Sunday, Professor Urummadu, from the Michael Okpara University of Agriculture, Umudike, suggested that instead of removing the subsidy, the government should have constituted a better subsidy management team to oversee it.
Urummadu criticized the International Monetary Fund (IMF) for its regular influence on the Nigerian economy, emphasizing that every country, including the United States, practices subsidies.
He raised concerns about Nigeria’s border communities becoming more porous, leading to an influx of criminals and illegal arms into the country.
Professor Urummadu also expressed support for President Bola Tinubu’s appointment of General Ike Nwachukwu and other non-APC members into office, stating that the president is broadening his administration for the progress of the country.
