• Wednesday, May 22, 2024
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COVID-19: Atiku calls for reduction of PMS price, suspension of Stamp Duty



Former Vice President and Presidential candidate of the People’s Democratic Party (PDP) in the last election, Atiku Abubakar has called on the federal government to reduce the pump price of Premium Motor Spirit (PMS), otherwise known as petrol as part of a decisive economic action to protect the Nigerian people from the ravaging effects of the COVID -19- the Coronavirus.

Atiku made this call in a statement he personally signed on Tuesday, even as he also called for temporary suspension on Stamp Duty on all types of accounts until such a time when the nation has turned the tide in the fight against the virus.


“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 noted.


Apart from these measures, Atiku also urged the government to encourage large scale industrialists and employers of labour not to disengage workers because of the virus.

“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,” he said.

He called for all hands to be on deck in a multi-partisan manner to ensure that Nigeria does not return to economic recession. He added that this is possible with decisive leadership and disciplined management.


“These are extraordinary times, and we as a nation 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 in the midst of global uncertainty,” he said.

 Innocent Odoh, Abuja