OBI ATTRIBUTES STAMPEDE TRAGEDIES IN OYO, FCT, AND ANAMBRA TO HUNGER AND SYSTEMIC ISSUES. (PHOTO).

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 Peter Obi has blamed hunger and systemic failures for the recent spate of stampedes across the country.  Scores of persons were dead, and many others wounded in the tragic incidents in Ibadan, Oyo State; Okija in Anambra and another one in the nation’s capital of Abuja. The stampedes happened in a space of five days with the last two occurring on Saturday morning during food distribution campaigns. Obi, who was the Labour Party (LP)’s presidential candidate in the 2023 election, said the incidents underline the rising hunger in the country which has led to desperation. “I am deeply saddened and distressed by the tragic loss of lives in desperate searches for food,” Obi, who is a former governor of Anambra State, wrote in a post on his X account Saturday afternoon. “While I will not cast blame but instead appreciate the organizers of these respective events for their kind gestures in providing palliatives and support to society, especially the poor, these tragedies reflect the...
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FUEL SUBSIDY IS BACK- OBASANJO. (PHOTO).

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 Fuel Subsidy Is Back – Obasanjo


Former President, Olusegun Obasanjo, revealed that fuel subsidy which was removed by the Federal Government in 2023 has been reintroduced due to inflation.


President Bola Tinubu during his inaugural address on May 29, 2023, had declared that fuel subsidy “is gone.”


The development has led to the increase of petrol price from about N200 to over N600 per litre.


In an interview with the Financial Times, Obasanjo faulted the manner in which the subsidy was removed by the government.


According to him, the government should have implemented some measures before the subsidy removal.


He, however, explained that the subsidy has “come back” due to the inflation rate.


“There’s a lot of work that needs to be done. Not just wake up one morning and say you removed the subsidy. Because of inflation, the subsidy that we have removed is not gone. It has come back,” Obasanjo said.


He also highlighted the need for investor confidence in Nigeria, stating, “You have to go from a transactional economy to a transformational economy.”


Daily Trust reports that some of the demands of the ongoing nationwide protest is reinstatement of the fuel subsidy regime.


But Tinubu, in his Sunday broadcast, ruled out possibility of returning fuel subsidy.


He described the decision to remove the fuel subsidy as painful but necessary, while arguing that it had been a “noose around the economic jugular of our Nation” and had hindered economic development and progress.

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