50% Transport Subsidy: President Tinubu Questioned
- President Bola Tinubu has been questioned on the effectiveness of the 50% transport palliative his administration initiated during the Christmas and New Year period beyond that period
- Barrister Titilope Anifowoshe, in an interview with Legit.ng posited that Nigerians need incentives that will last beyond the yuletide season
- According to the legal icon, countries facing tough economic times, like Nigeria, offer incentives such as tax credits, adding that one-time 50% rebate on transportation
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Legit.ng journalist Bada Yusuf is an accomplished politics and current affairs editor, boasting over seven years of experience in journalism and writing.
President Bola Tinubu has been questioned on the effectiveness of the 50% cut in transportation fees during the yuletide period in the face of different economic challenges confronting the country.
Barrister Titilope Anifowoshe, a legal icon, while speaking with Legit.ng, asked the question while commending President Tinubu for the action resulting from the permanent removal of the fuel subsidy.
Source: Twitter
Anifowoshe posited that many countries facing economic hardship always take diverse measures, such as tax rebatement, tax credits, and low-interest loans, to mention a few.
Lawyer speaks on Tinubu's 50% cut on transportation fare
The legal practitioner's comment reads:
The introduction of incentives like the 50% transport rebate amid the enduring economic challenges resulting from President Tinubu's removal of Fuel Subsidy is a commendable step. However, a critical question arises: how effective is this particular incentive in addressing contemporary economic hardships?
In the 21st century, when many nations employ diverse measures such as tax abatements, revenue sharing, grants, infrastructure support, low-interest financing, free land, and tax credits, a one-time 50% transport rebate might be questioned for its efficacy. As Adam Smith famously noted, “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.”
President Bola Tinubu, I believe, is capable of surpassing the classic Ottoman Empire form of humanitarian aid. The focus should be on long-term sustainable development, aligning with the promised upliftment from poverty made during his campaign.
FG unveils new motor parks eligible for 50% rebate on transport fares
Legit.ng earlier reported that the federal government has unveiled a longlist of motor parks where inter-state travellers can get a 50 per cent slash on transportation fares.
Temitope Ajayi, the senior special assistant to the president on media and publicity, announced the development in a statement on Friday.
Recall that the government had promised to subsidise the cost of transportation for travellers during the yuletide.
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Source: Legit.ng
