Senate Leader Opeyemi Bamidele yesterday listed the gains of fuel subsidy removal by President Bola Ahmed Tinubu.

Bamidele said the end of subsidy payments on May 29, 2023, not only resulted in adequate statutory transfers from the Federation Accounts to sub-national governments but also saved the nation from another economic meltdown.

He added that economic predators or cabal that benefitted from subsidy payments ganged up and made governance difficult for the President in the first 18 months of his administration.

In a statement by his Directorate of Media and Public Affairs, Bamidele also expressed confidence that this year’s budget would largely solve the nation’s socio-economic challenges.

The Senate Leader assured Nigerians that there would be no sacking in the federal civil service.

He said: “The proceeds from the fuel subsidy are now being allocated directly to the sub-national governments to drive development and boost domestic economy. These are the points we need to emphasise in our public engagement.

“Sadly enough, a lot of people are not paying attention to the sub-national governments.

“For instance, statutory transfers to the sub-national governments from the Federal Accounts have significantly increased.  

“If fuel subsidy had been retained, only God knows what would have happened to this federation. If subsidy had not been removed, our economy would have been in shambles or would have been flat on the floor.

 “I am convinced that the President did the right thing by removing fuel subsidy for which the Ninth National Assembly made provision till May 2023.

“But the people that made governance difficult for President Tinubu were those benefiting from fuel subsidies.

“It was not common men and women of this country who were benefiting from the fuel subsidy. It was not. It was members of the cabal who had access to the fuel subsidy. They are the ones staking away this privilege all in the name and on behalf of the masses. And the masses did not benefit from it.

“I was part of the Ninth National Assembly. At that time, we had agreed with the Executive arm of government that fuel subsidy should be removed because it was no longer in the overriding interest of the country.

“The Tinubu administration acted based on the policy direction the National Assembly, which was approved before his inauguration on May 29, 2023.

“In the 2023 budget, the National Assembly only made provision for fuel subsidy till May 2023. Whether President Tinubu was removed at his inauguration or not, there was no longer funding for subsidy because we did not make provision for it beyond May 2023.