Imo State Governor Hope Uzodimma has described the removal of the petrol subsidy by the Federal Government as a considerable boon for state governments. During an inspection of projects in Imo State to celebrate his second term‘s first anniversary, Uzodimma highlighted that the cessation of the subsidy has led to an increase in state revenues, thereby enhancing the capacity for developmental projects.
Uzodimma commented, “In reconciling the negative effects of the fuel subsidy removal and the benefits in terms of socio-infrastructure, social benefits, and then the ease of doing business occasioned by the provision of the enabling infrastructure, I think it is a blessing. It is a direct blessing; it is not a disguise to the sub-nationals because more monies are now coming to states and state governments must do things to show citizens that they are able to do these things because they now get more monies as a result of the fuel subsidy removal by the Federal Government.”
This perspective comes in the wake of President Bola Tinubu’s declaration on May 29, 2023, during his inauguration in Abuja, where he announced that his administration would no longer fund the fuel subsidy, emphasizing a policy shift aimed at financial reallocation for broader national development.
Uzodimma’s comments reflect a broader narrative among some state officials who see the subsidy removal as an opportunity to channel increased allocations into state development and infrastructure, despite the immediate hardships it has imposed on the general populace due to rising fuel prices.
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