Adebayo Adenrele

The spokesperson for the Presidential Campaign Council of All Progressive Congress (APC), Festus Keyamo has said that President Muhammadu Buhari is currently relying on revenue from Customs, Federal Inland Revenue Service (FIRS), among others to pay salaries and other things because of the effect of subsidy.

He stated that the Nigerian National Petroleum Corporation (NNPC) is no longer remitting money to Federal Accounts Allocation Committee (FAAC) while all the money earned goes to subsidy.

He lamented over the damage of subsidy, adding that it has affected both the economy and the nation.

Keyamo furthered they believe in intervention in the lives of the less privileged as a Party thus, their idea of conditional cash transfers to them.

He promised that measures would be put in place before 2023, in a bid to cushion the effect of subsidy on the poor.

In his words, “As a progressive party, we believe there must be intervention in the lives of the very poor and the middle class. That is why we have conditional cash transfers to the very poor. That is the philosophy of President Muhammadu Buhari, that is the philosophy of APC. We care a lot for the poor.”

“We are in government, we cannot hide it again from the masses, from the people. We must all keep saying that subsidy has eaten deep into our country, into our economy.”

“Nigerian National Petroleum Corporation (NNPC) is no longer remitting money to Federation Accounts Allocation Committee (FAAC). So all the money they earn goes to subsidy. So, the government has to rely on revenue from Customs, from Federal Inland Revenue Service (FIRS), from others to pay salaries and other things.”

“But it is still the sympathy that the President has for the poor because he feels that we have to put measures in place to cushion the effect on the poor before they remove subsidy. And that is why they’ve pushed it to sometime next year. The conversation on how to remove subsidy will begin.”