YCE sets economic agenda for Tinubu

The Yoruba Council of Elders in Lagos State, on Sunday, set an economic agenda for President Bola Tinubu to alleviate the suffering of the nation’s downtrodden market men and women occasioned by the removal of fuel subsidy.

YCE, in a statement by its acting National President, Funmilayo Jabaru, state Chairman, Francis Akinnikawe, Vice Chairman, Tawede Daniel, and National Treasurer, Akindele Aremu, in Ibadan, Oyo State, said the government should improve power supply to boost production capacity of manufacturing sectors which will help small-scale enterprises and medium enterprises to operate in full production capacity.

The council said, “We advise that the president should stop all electricity distribution companies from increasing their tariffs at will. The generating companies and distribution companies should work hand in hand in improving electricity supply to Nigerians including manufacturing, small and medium enterprises.

“Artisans remain key players in the economy of any nation, Federal Government should create conducive environment for them. Government should encourage and bring back all the multinational companies/factories that left our shore for other countries due to epileptic supply of energy and power.

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“We advise that you should apply your intelligence, wisdom, and above all your dynamic, proactive and pragmatic approach you used in Lagos State during your eight years of governorship which today Lagosians are enjoying.”

YCE said though subsidy removal was necessary and good, palliative measures to cushion the effect of the subsidy removal by the government should not be in the form of cash to any sector.

“Our suggestion on this is that the government should direct and stop the Central Bank of Nigeria from dealing with individuals rather they should be dealing with commercial banks and licensed financial institutions since the government is not funding the exchange market.”

“We suggest the buying of big and small buses fully run by the government in each 36 state capitals/cities. The big buses should ply and travel long distances while the small buses should be handed over to the Local government to manage.

“In addition, the transportation fares of both the small buses and the big buses be reduced by 70% in comparison with the private operators’ fares. This will enable the workers to move from their home to their various offices/working places. Also, this will allow the petty traders to transport their goods and wares to their various locations of their businesses without too much financial stress.”