BREAKING: FG Stops Subsidy Removal:- Backtrack Following Adolphus Aletor’s Analysis.

BREAKING: FG Stops Subsidy Removal:- Backtrack Following Adolphus Aletor’s Analysis.

The Federal government had earlier announced the disbursement of the sum of $800m as subsidy removal palliative from the IMF to take care of the down trodden occasioned by the effect of fuel subsidy removal.

The IMF loan was to be shared among 50m Individuals over a period of 6months.

Adolphus Arebanmhen Aletor in his interview with Dennis Ofik on Talking Business, a programme on Independent Television Benin City (ITV) pointed out that a government at the twilight of its administration should not be borrowing but rather concentrate on paying down.

He advised the FG to include its intention in its handover note, notify the transition Committee and allow the incoming administration decide on their own subsidy removal strategy. He counseled that a draw down by FG will erode the fragile trust that existed between the present administration and the citizens.

In what looks like a quick response to the advise, the FG surprisingly announced a policy reversal of the removal of subsidy April 27, 2023. During a briefing through the Finance Minister, Budget an Planning, Mrs Zainab Ahmed, who confirmed that the issue of subsidy removal shall nolonger be executed by the current government.

Adolphus Arebanmhen Aletor is a seasoned Financial analyst and commentator who writes for The Guardian and Businessam newspapers. He has numerous financial and business articles to his name online and is currently a frontline contender for the Governorship of Edo state come 2024.

See videos of interview attached.