Nigerians have been advised to forget the plan submitted by Wale Edun to President Tinubu that had N5.4 trillion fuel subsidy payment proposal for the year 2024.
Bayo Onanuga, President Tinubu’s Special Adviser on Information and Strategy, said the proposal submitted by Wale Edun to Tinubu was a draft and not yet signed by the president.
Onanuga said fuel subsidy was gone since Tinubu declared it on May 29, 2023. He added that what was contained in the “leaked” draft has not been endorsed by the President.
“The attention of the Presidency has been drawn to two fiscal policy documents in circulation that are being given wide coverage by the mainstream media and social media platforms.
“One of the documents titled Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024 is being shared as if it were an executive order signed by President Bola Ahmed Tinubu.
“The other is a 65-page draft document with the title “Accelerated Stabilisation and Advancement Plan (ASAP), which contains suggestions on how to improve the Nigerian economy. President Tinubu received a copy of the draft on Tuesday.
The Presidency has however not denied that the draft N5.4 trillion for fuel subsidy payment in the year 2024 was inputted into the plan by Finance Minister and Coordinating Minister of the Economy, Wale Edun.
“We urge the public and the media to disregard the two documents and cease further discussions on them. None is an approved official document of the Federal Government of Nigeria. They are all policy proposals that are still subject to reviews at the highest level of government. Indeed, one has ‘draft’ clearly written on it.” Onanuga said.
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Also, Wale Edun, speaking on the “leaked” proposal said fuel subsidy was gone. “It is important to understand that policymaking is an iterative process involving multiple drafts and discussions before any document is finalized.
“We assure the public that the official position on the documents will be made available after comprehensive reviews and approvals are completed,” he said.
“The government wants to restate that its position on fuel subsidy has not changed from what President Bola Ahmed Tinubu declared on 29 May 2023. The fuel subsidy regime has ended. There is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed.
“As previously stated by government officials, including myself, President Tinubu announced the end of the fuel subsidy program last year, and this policy remains firmly in place.
“The Federal Government is committed to mitigating the effects of this removal and easing the cost of living pressures on Nigerians,” Edun defended further.
The Finance Minister said Tinubu’s government is committed to addressing factors responsible for food inflation.
“Our strategy focuses on addressing key factors such as food inflation, which is significantly impacted by transport costs. With the implementation of our CNG initiative, which aims to displace high PMS and AGO costs, we expect to further reduce these costs.
“Our commitment to ending unproductive subsidies is steadfast, as is our dedication to supporting our most vulnerable populations,” he added.
The press statement signed by Bayo, on Thursday, June 6, added, “We call on the media to always exercise necessary checks and restraints in the use of documents that do not emanate from official channels so that the members of the public are properly informed, guided and educated on government policies and programmes.”
