Featured Politics News

Deregulation: Group seeks palliatives for vulnerable Nigerians

The Nigerian Natural Resource Charter (NNRC) has advised the Federal Government to provide palliatives for vulnerable Nigerians to cushion the impact of the deregulation of Premium Motor Spirit (PMS) in the country.

The NNRC, a non-profit policy institute that promotes the effective management of natural resources for public good, gave the advice in a statement by its Programme Coordinator, Ms Tengi George-Ikoli, on Thursday in Lagos.

According to her, such palliatives include tax reliefs for small businesses, electricity credits and transportation targeted reliefs in general in the short term.

She also advised the government to support initiatives that get more resources into the hands of Nigerians in the long term.

George-Ikoli the government ought to have staggered the full implementation of its deregulation policy, which commenced in March 2020.

She said if that had been implemented, Nigerians would now be used to the natural ebb and flow of price changes reflected by a commodity traded on the global market.

”That opportunity was lost and Nigerians have not had the opportunity to benefit from low prices and would no doubt bulk at increasing prices beyond what they may potentially be able to afford.

”The government must now put in place palliatives that may directly impact the Nigerians that the price hike may affect,” George-Ikoli said.

Related posts

It’s not time to jubilate, Lagos Speaker tells ticket winners

Editor

Police to support Eko DisCo for debt recovery

Editor

Makinde, Oyo gov-elect promises to prioritise workers’ welfare

By Meletus EZE

Nigeria seeks collaboration to capture stakes in $277b global carbon market

Our Reporter

Nigerian editors restate opposition to fake news, hate speech

Shile GIWA

CBN’s MPC retains MPR at 11.5%, holds other parameters constant