Lagos, Nigeria – Team Support Nigeria, a socio-economic group comprised of young Nigerians, entrepreneurs, business people, and professionals, is calling on the Federal Government to take immediate action and provide palliatives to support small business owners and vulnerable individuals who are feeling the pressure of fuel subsidy removal. The group emphasizes the importance of soft loans, cash transfers, and other forms of assistance to cushion the impact of this policy change.
Expressing their unwavering support for President Bola Tinubu’s transformative agenda and applauding the new administration’s efforts to address foundational issues hindering the country’s potential, Team Support Nigeria is committed to engaging with the socio-economic system of the country to ensure positive outcomes for Nigerians.
Coordinator of Team Support Nigeria, Chidiebere Onwumere, highlights the financial difficulties faced by Nigerians as a result of the fuel subsidy removal, noting that while it presents challenges, it is ultimately a necessary step towards alleviating the country’s long-standing issues.
“Research shows that the highest percentage of revenue generation in Nigeria comes from small business owners, and this sector is at great risk due to unfavorable policies such as double taxation, lack of power supply, and limited access to finance,” Onwumere explains.
In light of the proposed electricity tariff hike, the group urges the government to prioritize making solar energy accessible and affordable for all. This will help ease the transition and mitigate the effects of the fuel subsidy removal.
Furthermore, Team Support Nigeria calls on the President to appoint competent individuals, particularly economists with the necessary knowledge and background, as Ministers of the Federal Republic of Nigeria. This will ensure capable hands are leading the affairs of the country, including the management of the Apex Bank.
“The Team will continue to offer its unwavering support to the new administration, firmly believing in the great hope that Nigeria will rise and shine again,” Onwumere affirms.
With a strong network and collaborative spirit, Team Support Nigeria aims to work closely with government agencies, the private sector, and the international community to drive growth and development in Nigeria, fostering a prosperous future for all.
