(3 minutes read)
Edo and Kwara states have reduced working days for civil servants following a rise in transportation costs, food, and other essentials that were triggered by a hike in petrol prices. The move is to help them cope with increased petrol costs, following the federal government’s announcement to scrap fuel subsidies, which is a government policy that lowers the cost of fuel for consumers by providing financial assistance or direct payments to fuel suppliers or consumers.
Edo and Kwara states have reduced working days for civil servants following a rise in transportation costs, food, and other essentials that were triggered by a hike in petrol prices. The move is to help them cope with increased petrol costs, following the federal government’s announcement to scrap fuel subsidies, which is a government policy that lowers the cost of fuel for consumers by providing financial assistance or direct payments to fuel suppliers or consumers.
President Bola Tinubu had, in his inaugural address on May 29, 2023, announced the removal of the subsidy, which saw the return of fuel queues in major cities across the country. The subsidy, which has been in place since the 1970s, is a significant drain on government finances. However, critics of the fuel subsidy removal argue that it will further weaken the purchasing power of Nigerians and impoverish more citizens in a country where almost half of the population is poor.
Read Also:
https://trendsnafrica.com/
In June 2023, Nigeria’s main trade union movement suspended its nationwide strike over the subsidy withdrawal, following a court order.
