The Youth Party has sympathised with the Nigerian people on the temporary hardship brought about by the hike in the prices of petrol and electricity.
In a statement signed by the Director of Communications, Mr Mayowa Idowu, the Party stated that "the decision by the government to allow the market to determine the prices of petrol and electricity, though painful, is a necessary step in repositioning the nation's economy.
For a long time, only the rich have benefited from these subsidies leaving the poor and working-class Nigeria to grapple with poor infrastructure, poor education and healthcare facilities."
The Party, however, urged the federal government to take concrete steps towards subsidising mass transportation as detailed in its Bold Revenue Plan. Mr Idowu noted that "In 2019, Nigerians spent 63% of their total household income on food and transportation."
He further stated that "the cost of petrol is a significant determiner of the prices of food and transportation, therefore, the government can reduce the burden on citizens by subsidising mass transportation. That way, the prices of food items can be kept low and so will the cost of public transportation."
If this can be achieved, the party stated, the average Nigerian will be insulated from the impact of the removal of petrol subsidies. The Party also recommended several ways that the government can subsidise public transportation some of which are,
Purchase of mass transit buses in various commercial cities, reduction of toll fees for mass transit buses, reduction of levies on mass transport operators and vouchers of accredited companies transporting food items.