Fuel subsidy removal: like Thatcher, Tinubu took hard but necessary decision – Speaker Abbas

By Christiana Ekpa

The Speaker of the House of Representatives, Tajudeen Abbas has said some policies of President Bola Tinubu reflect the drive of the late United Kingdom, UK, Prime Minister, Margaret Thatcher.

Abbas said Tinubu’s removal of fuel subsidy and the unification of naira was a close reflection of Thatcher.

The Reps Speaker made the remarks at the All Progressives Congress, (APC) ongoing National Summit in Abuja.

He insisted that Tinubu has ended decades of dependency on subsidy through his singular pronouncement.

Tinubu had declared an end to fuel subsidy regime in Nigeria during his inauguration as president in 2023.

However, Abbas said: “Mr President, your decisive removal of fuel subsidy and unification of the naira closely mirrors the monetarist revolution and privatisation drive of the late Margret Thatcher in the UK.

“Just as Thatcher reduced public spendings, you broke the power of entrenched interests and sole state enterprises to restore fiscal health and investors confidence.

“You have ended decades of dependency on subsidy and consolidated the exchange rate.”he Bill, jointly sponsored by Speaker Tajudeen Abbas and Daniel Ago, was presented during Thursday’s plenary.

While leading the debate, Ago explained that the legislation aims to boost citizens’ participation in elections, arguing that it could help reduce voter apathy if it successfully passes all legislative stages.

However, Mark Esset, a member of the Peoples Democratic Party representing Akwa Ibom State, expressed reservations.

He argued that merely mandating citizens to vote would not be sufficient to reform the electoral system.

“We shouldn’t build on a shaky foundation,” Esset stated.

“Many Nigerians abstain from voting because they doubt the credibility of the process. If we’re going to make voting compulsory, we must also ensure that people believe their votes truly count,” he added.Speaker of the House, Rajudeen Abbas, announced this on the floor of the House during plenary yesterday.

A letter from the defectors was read by the Speaker.

The defectors cited the lingering internal crisis and unresolved issues within the PDP as the major reasons behind their decision to leave the party.

They further stated that the instability within the PDP has made it difficult to effectively serve their constituents and align with progressive governance.

Governor Dikko Radda of Katsina State, in a show of solidarity and support, was present in the chamber to witness the lawmakers’ formal defection to the APC.mmemorate Workers Day.

He said this year’s theme was shows the link between a harmonious society and sustainable economic progress.

He said: On this auspicious occasion of Workers’ Day 2025, I join millions of Nigerians in celebrating the invaluable contributions of Nigerian workers to the growth and development of our great nation.

“This year’s theme, “Striving for Peace and Stability to Drive Industrialisation, Trade, and Decent Work for Social Justice”, underscores the critical link between a harmonious society and sustainable economic progress.”