- Atako said that it was important to mitigate the harsh effects of the latest increase in the price of fuel on both the economy and Nigerians.
- She said that the long fuel queues that resurfaced in various cities had attendant consequences on Nigerians whose cost of living was shrinking by the day.
The Nigerian Institute of Management (NIM) has urged the federal government to take immediate action to ease the economic burden caused by the recent fuel price increase.
According to a statement issued by the institute’s registrar, Mrs. Taiwo Olusesi, in Lagos on Saturday, NIM President Dr. Christiana Atako emphasized the need to soften the blow of the fuel price hike on both the economy and citizens.
Atako noted that the reappearance of fuel queues in various cities had devastating consequences for Nigerians, who were already struggling with rising living costs.
The statement expressed support for the federal government’s efforts to revitalize the economy but emphasized the need for a more compassionate approach to economic policy-making.
Atako called on the federal government to prioritize citizens’ well-being by addressing fuel scarcity, hunger, and other economic challenges through proactive measures.
While acknowledging the difficulties caused by the fuel subsidy removal, Atako recognized it as a necessary step towards economic stability, which would help reduce resource mismanagement and corruption in the oil sector.
She stressed the need for the federal government to implement measures to minimize the impact of the subsidy removal on the masses.
Atako suggested measures such as providing support for those most affected, increasing government investment in agriculture, public transportation, and youth employment programs.