The Nigerian Institute of Management (NIM) has appealed to the federal government to take action to alleviate the economic hardship caused by the recent petrol price hike.
News About Nigeria reports that Dr. Christiana Atako, NIM President’s appeal is contained in a statement released by the institute’s registrar, Mrs. Taiwo Olusesi, in Lagos on Saturday.
Atako stated the need to cushion the harsh effects of the fuel price increase on both the economy and Nigerians.
She said that the resurfaced fuel queues in various cities had severe consequences for Nigerians, whose living costs were dwindling daily.
“The Institute supports the current efforts by the Federal Government to kick-start the nation’s weak economy and put it on a good footing,” the statement reads.
“However, NIM is an organisation committed to promoting good governance and sound management practices.”
“We believe that government should do everything within its power to give the nation’s economic policies a human face.”
Atako asked the federal government to prioritise Nigerians’ welfare by taking proactive measures to address fuel scarcity, hunger, and other economic challenges.
“The Institute concedes that the decision to remove fuel subsidy has come with some pains.”
“It is, however, a necessary step towards the nation’s economic stability as it will help to curb the mismanagement of scarce resources.”
“It will also reduce corruption in the oil sector, and ensure that the benefits of government spending are felt by all Nigerians.”
“Since the removal of subsidy is a difficult decision with significant impact on the masses, it is essential that the federal government implement measures to mitigate its effects,” she said.
Atako proposed measures such as providing a safety net for those most affected by the subsidy removal, and increased government intervention in agriculture, public transportation, and youth employment programmes.
