The Global Amnesty Watch (GAW) has commended President Bola Tinubu for taking the bold step to remove fuel subsidy.
The group said the President demonstrated strong political will and the desire to address the country’s challenges in an audacious manner that frees it from the clutches of fuel importers and marketers.
The GAW made this known in its country situation report signed by its director, Isaac Ikpa and made public on Thursday.
“One of the critical decisions taken by the Bola Tinubu administration was the announcement of the removal of subsidy on Premium Motor Spirit,” the report said.
“The Global Amnesty Watch commends the decision, which resonates with the necessity of time given that the subsidy regime was not sustainable and fraught with irregularities that take a large chunk of the country’s resources, running into trillions of naira.
“The removal of subsidy on petrol is a step in the right direction. It was a demonstration of strong political will and the desire to address the country’s challenges in an audacious manner that frees the country from the clutches of fuel importers and marketers.
“It is a statement of the fact that the decision by President Bola Tinubu is a step that would put the country in good stead economically. This is on the heel that savings from the removal of subsidy would be channelled to other sectors begging for attention.
“President Bola Tinubu, with the action on subsidy removal, indeed sent a positive signal to the international community on what to expect in the years ahead with regard to policy formulation and implementation.”
According to Ikpa, the decisions taken so far indicate the preparedness to address the socio-economic challenges in Nigeria and have restored hope in the country towards achieving sustainable growth and development.
He said the international community has already shown a willingness to partner with the country in ways identifiable, adding that the President’s recent trip to France shows that Nigeria is back on an upswing on the global scene.
On the economy, the report added that: “The steps taken so far with the suspension of the governor of the Central Bank and the reversal of some monetary policies boosted investors’ confidence and the consequent improvements in the economic rating of the country.
“The Global Amnesty Watch recognizes the necessity of the economic decisions taken so far and their impact on the economy. President Bola Tinubu is conversant with the economic implication of nonaction in addressing the economic challenges in the country. ”
The report further hailed President Bola Tinubu for rejigging the security architecture by appointing new service chiefs and the National Security Adviser.
Ikpa noted that “the quality of the appointments was top-notch as it reflected balance and competence” adding that the President has taken the necessary steps to address the security challenges in the country.
He, however, tasked the current administration to ensure the formulation and implementation of policies and programs that would give succour to the generality of Nigerians regardless of ethnic or religious affiliations.