Buhari needs N4.1trn for fuel subsidy, salaries, others – APC National Chairman

Buhari needs N4.1trn for fuel subsidy, salaries, others – APC National Chairman

Ahead of the inauguration of the incoming administration, National
Chairman of the All Progressives Congress (APC), Chief John Odigie-
Oyegun, on Saturday, said that the incoming government would need
about. N4.1 trillion to pay salaries at the federal and state levels,
petrol subsidy, and service debts incurred by the outgoing
administration.
The APC National Chairman, who stated this at a two-day retreat for
APC senators-elect in Abuja in a speech entitled “Extraordinary Times
Require Extraordinary Actions”, however told the incoming lawmakers:
“Make no mistake about it, the days ahead will be tough, and this is
not crying wolf.”
According to him, “From the first day of this government, a total of 4.1
trillion Naira will be required for sundry expenses, including oil subsidy
payment, arrears of salaries at federal and state levels and debt
servicing, just to mention a few.
“Put this against the background of the falling oil prices, the
unprecedented$60-billion debt which the outgoing government has left
for the incoming one, the largely depleted Excess Crude Account
(ECA), the $60 billion that has been lost in the last four years to crude
oil theft (and which are perhaps still being lost as we speak), the need
to rapidly create jobs for our teeming army of unemployed youths,
enhance the security of the citizenry and improve the economy, and
you will begin to understand the enormity of the challenges ahead.”
“This is not a lamentation forum, but still, we must tell ourselves the
truth about the state of the nation, and the expectations of our people.
“In fact, to a number of our compatriots, by May 30, a day after the
swearing of our president-elect, all the streets in Nigeria will be air
conditioned while electricity will become stable and fuel scarcity will
be a thing of the past. Yes, we will get there, but it won’t happen
overnight”, he noted.
Continuing he said, “You, our senators-elect, will be called upon to
take extraordinary actions to address the extraordinary challenges that
confront our nation.
“The incoming president, more than anyone else, needs the support
and cooperation of the 8th national assembly to fulfill his campaign
promise to Nigerians.
“You may be required to pass important bills at very short notices.
This will not be unprecedented but will require a buy-in to the
programmes of the president and the party and willingness to work
with him and the party for the benefit of all Nigerians. The demands
on you will be tasking, but you are up to the task!
“Fortunately we have the numbers, even though we believe that a
bipartisan effort – to which we are open – will be a better deal
“And there is good news! You, our Senators-elect, share in the dreams
of the President and our party to make our country great again.
“May I also remind you that all eyes will be on our party – and by
extension on all of you – to see if our government will walk its talk in
terms of running a lean and effective government, one that eschews
waste, corruption and indiscipline, and one that will harness the
nation’s human, material and natural resources for the well-being of
the people.
“There is no magic wand to make our economy better overnight.
Against the realities on the ground, some of which I listed earlier,
reviving our economy will be a long and tortuous process. Bold
decisions will need to be taken, and this can only be possible if there
is a synergy among our party, the National Assembly and the
President. We know you will not fail us, and you will not fail Nigerians”,
he stated.