Nigeria’s former vice president, Atiku Abubakar, has advised the federal government to reduce the pump price of Premium Motor Spirit (PMS) to reflect the current prevailing market costs.
He also asked the government to suspend stamp duty on all types of accounts
Atiku gave the advice on Tuesday in his message on the coronavirus currently raging in the world.
The former vice president said Nigeria must take decisive economic action to protect the people from the Ravages of the Corona Virus.
“The coronavirus is raging in the world and not just ravaging human beings, it is also affecting economies. Nigeria is not an island onto itself, and we must take measures to protect the economic well being of our nation and people.
“Every action that can be taken to ease the cost of doing business in Nigeria and reduce the cost of living, while promoting consumer confidence must be implemented.
“As such, I recommend that policies like the Stamp Duty on all types of accounts be temporarily suspended, until such a time as the nation’s economy has turned the tide in the fight against this virulent scourge.
“Furthermore, as the landing cost of Premium Motor Spirit, also known as petrol, has reduced significantly, it is strongly recommended that the government should not absorb the savings, but should pass it on to the Nigerian people by way of reducing the pump price of PMS to reflect the current prevailing market costs,” Atiku said.
He added that all hands must be on deck in a multi-partisan manner to ensure that Nigeria does not return to an economic recession.
This is possible with decisive leadership and disciplined management.
“In addition to these measures, the government is urged to request large scale industrialists and employers of labour not to disengage workers.
“Definitely, this scourge will affect their production and profitability. However, if they know that the government is behind them and will do all to support them, they are less likely to disengage workers,” Atiku said.
He further stated that these were extraordinary times, and as a nation, Nigeria must take extraordinary measures to protect the entire nation.
“Nigeria is our collective home, as such, we must suppress every partisan disagreement and think and work patriotically to ensure our national survival amid global uncertainty,” he said.