Prioritise subsidy removal, tackling multiple taxation over salary increase – Finance expert to FG, NLC

A Professor of Financial Economy, Sebastian Urummadu has advised the Federal government to restore the fuel subsidy and end multiple taxation, saying it would stabilize the economy.

This is even as he urged the Nigerian Labour Congress, NLC, to concentrate its demand on the restoration of fuel subsidy and the end of multiple taxation.

Professor Urummadu who is of Michael Okpara University of Agriculture, Umudike, stated this on Sunday while speaking to Journalists in Umuahia.

He suggested that a better subsidy management team should have been constituted by the government to monitor fuel subsidy, than removing it in the first place.

Uremmadu, who decried the level of hunger and suffering among the masses, said the situation has further increased insecurity in Abia and other parts of the country.

“Even if you pay a worker one million naira per month, it will not still solve the workers’ problem. There are many things indirectly built to pay back the workers. Bring back the fuel subsidy so that the cost of transportation and cost of things will reduce”, said the Professor.

He urged the NLC and the federal government to negotiate fuel subsidy returns and end multiple taxation but to concentrate less on high salary demands.

Uremmadu, who knocked the International Monetary Fund, IMF, for its regular influence on the Nigerian economy, made it clear that every country, including the United States of America, practices subsidy.

Professor Urummadu raised the alarm that Nigeria’s border communities have now become more porous for the influx of criminals and illegal arms into the country.

He supported President Bola Tinubu for appointing General Ike Nwachukwu and other non APC members into offices, saying that the president is enlarging his family for the progress of the country.

Prioritise subsidy removal, tackling multiple taxation over salary increase – Finance expert to FG, NLC