• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, September 18, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Natural Resources

Bankers call for subsidy removal, deregulation of economy

Subsidy

The Matters Press by The Matters Press
April 21, 2022
Reading Time: 2 mins read
0
Nigeria has not taken decision yet on fuel subsidy

The Federal Government has been urged to totally remove subsidies and deregulate the economy fully in the long run to ensure Nigeria’s prosperity.

RELATED POSTS

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

Dr Bayo Olugbemi, President and Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN) stated this on Thursday at the official inauguration of ‘The CIBN Bankers Hall’ at The Polytechnic, Ibadan, Oyo State.

Olugbemi said it was not only the Nigerian economy that is in tumult.

He said: “All over the world, there is a problem with the economies, with COVID-19 that is just abating.

“Unfortunately, Nigeria is the worst hit probably because of our mono economy, meaning we have only one major revenue earning which is petroleum products.

“And of course world pricing is a function of what the refined products would be. And as we know because of the war between Russia and Ukraine, the dollar price of oil is going up and definitely it has to affect the final products.

“Unfortunately, we are not refining in Nigeria. We have to import using dollars and that is the reason why the government is giving subsidies; but for me as a person, as an economist, a banker and a financial expert in the long run, the best would be to diversify the economy and deregulate.

“There shouldn’t be anything called subsidy because at the end of the day, it doesn’t percolate to you and I. The people at the top are the ones enjoying it.

“Government has no business with subsidies in the long run, it should deregulate the economy fully and ensure there are modular refineries.”

The CIBN president, said the project being carried out in the six geopolitical zones of Nigeria represents the modest contribution of the institute to the development of banking and finance education in Nigeria.

“The Institute is mindful of the fact that government alone may not be able to provide all the funding required to provide quality education especially at tertiary level.

“Revamping the educational system in Nigeria is therefore a collective responsibility and we all must play our role,”Olugbemi said.

Gov. Seyi Makinde of Oyo State, represented by Mr Rahman Abdu-Raheem, the Commissioner for Education, Science and Technology, said the present administration had been leveraging on partnership to revamp the education sector.

While appreciating CIBN for the smart building said, “the building will facilitate improved academic learning as it will complement the existing ones.”

Dr Seye Awojobi, the Registrar of CIBN, also charged the management, staff and students of the institution to make judicious use of the building and ensure that the state-of-the-art facilities provided are well maintained.

He noted that the 150-seater capacity building with free WiFi would facilitate training of professions in the banking sector.

In his address, Prof. Kazeem Adebiyi, Rector of The Polytechnic, Ibadan, pledged that the building and its facilities will be maintained while asking for more intervention from CIBN to the institution.

Tags: Subsidy
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

2023 maritime, shipping outlook force experts to call for aid
Economy/Technology

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

September 17, 2025
NBS reports increase in Inflation
Economy/Technology

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

September 17, 2025
Old pension scheme beneficiaries get a boost in entitlements
Economy/Technology

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

September 14, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
Economy/Technology

‎Tinubu never abandoned the North, TMSG insists

September 12, 2025
Trading in Nigerian stock market dips further N83bn
Economy/Technology

Tinubu’s pro-business model triggers surge in capital market – TMSG

September 10, 2025
Tinubu commits to economic reforms as Nigeria marks democracy day
Economy/Technology

‎Tinubu’s achievements daze gov., opposition leaders

September 10, 2025
Next Post
DLM Capital Group unveils Sofri Digital Bank

DLM Capital Group unveils Sofri Digital Bank

$27.3bn lost to salinity-induced soil degradation annually–SSSN

AfDB moves to reduce fertiliser prices in Africa

Recommended Stories

Nigeria to revamp steel sector to boost economy

Nigeria commits to reviving Ajaokuta steel mill

February 29, 2024
Nigerians kick against re-opening of schools as COVID-19 bites harder

Group Commends NELFUND’s Impact in Advancing Student Access to Higher Education

October 17, 2024
FIRS deploys tech platform for tax collection

Trust deficit hampers tax compliance

August 15, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Leap in non-oil exports gain of Nigeria:s economic diversification ‎
  • Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎
  • ‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us