Buhari borrowed $400bn to pay fuel subsidy, stabilize Naira – Sen Adeola
CHIGOZIE AMADI
The Chairman, Senate Committee on Appropriations, Senator Adeola Olamilekan Yayi has disclosed that the immediate past administration in the country borrowed trillions of naira to pay fuel subsidy, which according to him was being collected by less than 1% of Nigerians.
Adeola added that no fewer than $ 400 billion was equally borrowed to stabilize naira against the dollars, a fiscal policy that left the country’s economy at the brink.
While praising President Tinubu for taking the hard step by necessary decision to revamp the hitherto comatose economy, Adeola observed that all the reforms being undertaken by the incumbent administration in the country are to secure the future of the unborn generations of Nigerians.
The Senator made this known while speaking on Saturday at the 2nd Edition of Town Hall Meeting/Mega Empowerment and Thank You Tour, held at Ayetoro, Yewa North Local Government Area of Ogun State.
The Senator representing Ogun West senatorial district said that President Bola Ahmed Tinubu saved Nigeria’s economy from total collapse by removing fuel subsidy and floating the naira.
Adeola added that the bold step of President Tinubu-led administration was the saving grace for the nation.
He, however, appealed to the people to continue to be patient with the administration of President Tinubu, declaring that the current economic policies have begun to yield positive results.
On the empowerment programme, the senator explained that the programme was organized to reward and appreciate the constituents in Yewa North Local Government Area for their support during the 2023 general elections.
He added that the empowerment programme, which was also held in Imeko-Afon LGA on Friday, will be held in Yewa South, Ipokia and Ado-Odo/Ota local government areas.
Reeling out his achievements in the Senate in almost two years in the saddle, Adeola, said he has taken the advantage of his position as the Chairman of the Senate Committee on Appropriations to fight for the rights of his constituents and facilitate developmental projects to Ogun West.
He listed road construction, power transformers, installation of solar lights, ICT centres, construction of Primary Healthcare Centres, ultra-modern markets, police stations as some of the infrastructural projects he had facilitated and completed under two years
The Senator, however, disclosed that another set of 3,000 students selected across the six LGAs in Ogun West will be given scholarship and bursary awards of N200,000 and N100,000, respectively.
While thanking Governor Dapo Abiodun of Ogun State for supporting all his activities in Ogun West, especially the empowerment programmes, he urged the people to continue to rally support for the incumbent administration in the state.
Earlier in his remarks, the Minister of State for Health and Social Welfare, Dr. Iziaq Kunle Salako, lauded Senator Adeola for facilitating real dividends of democracy in Ogun West.
Among dignitaries present were Senator Kola Bajomo, former Senator of the district and former ICAN president, Hon. Kayode Oladele, commissioner, Federal Character Commission, Hon Ogo Akinleye, commissioner, Public Complain Commission, Rt. Hon Tunji Egbetokun and Rt. Hon Suraju Adekunmbi, both former Speakers of Ogun State House of Assembly and a host of other federal and state government officials.
