States getting more money under Tinubu, fuel subsidy removal a blessing – Uzodinma
Governor Hope Uzodinma of Imo State has recently expressed that state governments are now receiving more funds under the administration of President Bola Tinubu, attributing this positive development to the removal of the fuel subsidy. According to Uzodinma, the policy change has resulted in a financial boost for states, providing them with additional resources to manage various development projects and initiatives.
In a statement made during the inspection of several ongoing projects on Monday, which coincided with the first year anniversary of his second term in office, the governor emphasized that the fuel subsidy removal has proven to be a significant advantage for state governments. He described the removal of the subsidy as a blessing, both in terms of its financial impact and its broader socio-economic benefits.
Governor Uzodinma explained that, while the removal of the fuel subsidy might have initially been seen as a challenging policy shift, it has ultimately yielded positive outcomes, especially in terms of socio-infrastructure development, social welfare, and the improvement of the ease of doing business. He argued that the increased funds now available to state governments are a direct consequence of the subsidy removal and should be viewed as a beneficial development for the nation’s sub-national governments.
“The removal of the fuel subsidy is not a hidden or disguised action; it is a direct blessing to states,” Uzodinma stated. He further noted that with the additional financial resources, state governments now have a greater responsibility to demonstrate their ability to implement meaningful projects and deliver on their promises to citizens. The governor emphasized that it is now crucial for state leaders to utilize these newfound funds effectively, showcasing their capacity to improve the lives of their people.
The fuel subsidy removal was officially declared by President Bola Tinubu on May 29, 2023, during his inauguration speech in Abuja. In a bold move, Tinubu announced that his administration would no longer continue the practice of subsidizing fuel prices, which had long been a contentious issue in the country’s economic landscape. While the removal of the subsidy caused initial unrest due to the subsequent increase in fuel prices, President Tinubu’s administration has maintained that the decision was necessary for long-term economic stability and growth.
Governor Uzodinma’s remarks reflect a growing recognition among some state leaders of the benefits that have emerged from the subsidy removal, particularly in terms of enhanced financial autonomy and the opportunity to accelerate development projects across various sectors. His statements also underscore the importance of responsible governance, as state governments are now better positioned to implement infrastructural improvements and boost social welfare programs, which are essential for fostering a more prosperous and equitable society.
