A renowned expert in banking, finance, and financial economics, Professor Sebastian Uremadu, has called on the Federal Government to immediately restore fuel subsidies and remove multiple taxation to avert looming nationwide protests.
In an interview on Saturday, Uremadu attributed the recent surge in food prices and services to the removal of fuel subsidies, emphasizing the need for urgent action to address the situation.
The professor appealed to President Bola Tinubu to prioritize economic stability by reintroducing fuel subsidies and ensuring proper management, according to Daily Post.
He warned that failure to do so could lead to widespread protests with potentially devastating consequences.
Uremadu also commended the President’s achievements, particularly the signing of the South East Development Commission, but stressed that economic stability remains crucial.
Additionally, he supported the Ohanaeze Ndigbo’s advice for Igbos to avoid participating in the planned protest, citing concerns about potential hijacking by hoodlums.
Uremadu urged South East leaders to leverage the SEDC for regional development, praising South South leaders for their patriotic efforts.
He dismissed allegations linking Peter Obi to the planned protest, cautioning against reducing the issue to religious or tribal sentiment. Instead, Uremadu advocated for African leaders to emulate US President Joe Biden’s commitment to respecting the people’s wishes.
“I urge my dear President to align with the voice of the people by restoring fuel subsidy and removing multiple taxation which have been making disposable income become useless.
“The negative effects of protests in Kenya should not be allowed to happen in Nigeria. Our dignity, security and life should not be allowed to be tampered with”, Uremadu appealed.
