Tinubu inherited a terrible economic situation – Oshiomhole
Senator representing Edo North Senatorial District Adams Oshiomhole said President Bola Tinubu inherited the dire economic situation from the previous administration.
Oshiomhole said so in an interview with reporters shortly after meeting with the Vice President, Senator Kashim Shettima, behind closed doors at the Presidential Villa in Abuja on Tuesday.
The former governor of Edo State noted that some of the decisions taken by President Tinubu's administration are the first step towards overhauling the economy.
He added that President Tinubu had shown courage and determination to end the corruption of the subsidy regime and the Central Bank of Nigeria (CBN), while appealing to Nigerians for patience.
Meanwhile, Oshiomhole said he is confident that issues arising from the removal of fuel subsidies will be quickly resolved between the federal government and the unions.
According to him, Tinubu recognizes the impact that the removal of the fuel subsidy is having on Nigerians and is determined to take immediate action to cushion it.
He said: "This president recognizes that the effect of the withdrawal is already there, people are already going through some level of discomfort and so there has to be an immediate solution.
"Now that the immediate solution is what we've been discussing and the fact that we're meeting again on Tuesday clearly shows that, we realize that's not one of those things you want to buy time for because it has a real negative impact, especially on the most vulnerable group.
"But we have a solution because you're going to save money, so take that savings or even if it's a loan.
"So whatever it is, you can take advantage of some income and improve salaries to cushion the cost of living, I think it's legit, I think it's doable, it's not not something you want to spend two to three months negotiating,” he said.
Recall that Oshiomhole was part of a meeting between the Federal Government and the Trades Union Congress (TUC) on Sunday.
Related NewsOshiomhole said the meeting had been productive, adding that the government would consider all requests from the TUC and return on Tuesday.
He said that if Nigeria can save about 7 trillion naira by ending subsidies, the federal government can take some of that money and invest it in the wage sector "because those savings will go to the federation account which will be distributed among the three levels of government and thus each level of government will have more money and should be able to cope with the consequent increase in wages."
Senator representing Edo North Senatorial District Adams Oshiomhole said President Bola Tinubu inherited the dire economic situation from the previous administration.
Oshiomhole said so in an interview with reporters shortly after meeting with the Vice President, Senator Kashim Shettima, behind closed doors at the Presidential Villa in Abuja on Tuesday.
The former governor of Edo State noted that some of the decisions taken by President Tinubu's administration are the first step towards overhauling the economy.
He added that President Tinubu had shown courage and determination to end the corruption of the subsidy regime and the Central Bank of Nigeria (CBN), while appealing to Nigerians for patience.
Meanwhile, Oshiomhole said he is confident that issues arising from the removal of fuel subsidies will be quickly resolved between the federal government and the unions.
According to him, Tinubu recognizes the impact that the removal of the fuel subsidy is having on Nigerians and is determined to take immediate action to cushion it.
He said: "This president recognizes that the effect of the withdrawal is already there, people are already going through some level of discomfort and so there has to be an immediate solution.
"Now that the immediate solution is what we've been discussing and the fact that we're meeting again on Tuesday clearly shows that, we realize that's not one of those things you want to buy time for because it has a real negative impact, especially on the most vulnerable group.
"But we have a solution because you're going to save money, so take that savings or even if it's a loan.
"So whatever it is, you can take advantage of some income and improve salaries to cushion the cost of living, I think it's legit, I think it's doable, it's not not something you want to spend two to three months negotiating,” he said.
Recall that Oshiomhole was part of a meeting between the Federal Government and the Trades Union Congress (TUC) on Sunday.
Related NewsOshiomhole said the meeting had been productive, adding that the government would consider all requests from the TUC and return on Tuesday.
He said that if Nigeria can save about 7 trillion naira by ending subsidies, the federal government can take some of that money and invest it in the wage sector "because those savings will go to the federation account which will be distributed among the three levels of government and thus each level of government will have more money and should be able to cope with the consequent increase in wages."
What's Your Reaction?
