OGIC CEO Fashina Olajide advises Govt on palliative distribution

 The Chief Executive Officer of the  Olageospatial Global Investment Company (OGIC), Olajide Fashina,  has shared his insights and recommendations regarding the federal government's palliative measures to cushion the effects of the fuel subsidy removal in Nigeria. 

Speaking with family FM radio  on Tuesday, Fashina emphasized the need for unity and community support during these challenging times.

He expressed his concerns about the limited reach of the palliative measures, stating that they cannot effectively cover all Nigerians. 

The real estate boss urged citizens to adopt a "brother's keeper" mentality, emphasizing the importance of looking out for the less fortunate in society.

Drawing inspiration from the actions of Borno State Governor, Fashina praised the governor's hands-on approach to distribute relief items, such as bags of rice, directly to families in need.

 He encouraged the Ogun State government to learn from this example and ensure that palliatives reach those who need them the most.

Fashina highlighted the significance of addressing the broader economic issues in Nigeria. He emphasized that the key pillars of the country's economy are fuel and foreign exchange. 

He called upon President Bola Tinubu to fulfill his promise of getting at least one refinery operational by December, which could lead to a reduction in fuel costs and provide widespread relief to citizens.

Regarding foreign exchange, Fashina proposed a shift from consumption to production, both at the federal and state government levels. 

He stressed that job creation and economic empowerment should be prioritized over taxation, especially for the unemployed and struggling businesses.

The CEO also acknowledged the challenges faced by Nigerian youth, who are grappling with unemployment and the collapse of many businesses. 

He argued that taxation on essential commodities, such as fuel, is burdensome and counterproductive. Instead, he advocated for increasing production before implementing taxation policies.

In response to Governor Dapo Abiodun's promises of electric bikes and buses to cushion the effects, Fashina expressed patience and optimism, believing that the governor is making progress toward these goals. 

However, he urged the governor to focus on creating agricultural jobs, as he believes that providing sustainable employment opportunities is the key to addressing the nation's economic challenges.

Fashina underscored the importance of a better economy to meet the aspirations of Nigerian youth.

 He expressed confidence in President Bola Tinubu's efforts to restructure and revive the economy, and he encouraged citizens to endure short-term pain for long-term economic gains through endeavours such as farming and skills development.

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