The Youth Party has sympathised with the Nigerian people on the temporary hardship brought about by the hike in the prices of petrol and electricity.
In a statement signed by the Director of Communications, Mr Mayowa Idowu, the Party stated that “the decision by the government to allow the market to determine the prices of petrol and electricity, though painful, is a necessary step in repositioning the nation’s economy.
For a long time, only the rich have benefited from these subsidies leaving the poor and working-class Nigeria to grapple with poor infrastructure, poor education and healthcare facilities.”
The Party, however, urged the federal government to take concrete steps towards subsidising mass transportation as detailed in its Bold Revenue Plan. Mr Idowu noted that “In 2019, Nigerians spent 63% of their total household income on food and transportation.”
He further stated that “the cost of petrol is a significant determiner of the prices of food and…
Source: Vanguard Newspaper