Fuel Subsidy Removal Necessary But Hastily Announced – Former Ekiti Gov, Fayemi

Former Ekiti state governor, Kayode Fayemi, has said that the decision to end payment of subsidy on petrol was made too hastily.

Recall that on May 29, 2023, President Bola Tinubu, during his inauguration speech, announced the removal of subsidy, a development which led to a hike in the pump price commodities in the country.

In an interview on Channels Television on Friday, the former governor said that the announcement left insufficient time for the federal government to prepare for the consequences of the policy change adequately.

He added that Tinubu government faced a difficult economic environment and that the measures taken were necessary.

Fayemi said: “The government that is in office now inherited a challenging situation.

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“We are not unaware of where we have come from because it is the same party that transitioned into the current government.

“I think there were some missteps, not policy changes that were wrong.

“I actually think the policy changes were appropriate, but the announcement at the inauguration day was a little bit precipitous and did not allow for enough room to prepare the ameliorating circumstances that would address the challenges that were bound to come in terms of inflation.”