Two Ministers in the Federal Executive Council on Friday expressed concern over the deleterious effects of fuel subsidy removal and floating of the Naira on the economy.
The Minister of Budget and Planning, Atiku Abubakar Bagudu and his counterpart in the Ministry of Agriculture Senator Abubakar Kyari, picked holes in the economic policy of the present administration.Acccording to Tribune, the duo spoke at a session with the joint Committee of the Senate: the Committee on Finance; Banking, Insurance and other Financial Institutions Committee and Appropriation CommitteeThe Minister of Budget noted that the removal of fuel subsidies has instigated a high cost of petroleum with attendant costs for farmers.
Senator Kyari in his observation declared that devaluation of the Naira in the guise of floating the currency has made farm produce in the country cheaper in the neighbouring country and consequently encouraged what he called “undocumented exports of food to our neighbouring countries.“Our food products are the cheapest around the neighbourhood,” Senator Kyari declared.
-Advertisement-
Grab our latest Magazine, "Kelechi Amadi-Obi - Transcending the worlds of Law, Visual Art and Photography". Get your order fast and stress free.
For more details about Newswire Law&Events Magazine, kindly reach out to us on 08039218044, 09070309355. Email: newswiremagazine@yahoo.co.uk. You will be glad you did
Download E-MagazineDo you want to be heard, your events covered, your articles published, or need to advertise your products and services on our Blog and Magazine, reach out to us at Newswire Law and Events, you will be glad you did. For more details about our services, please call: 08039218044, 09070309355. Email: newswiremagazine@yahoo.co.uk
