Subsidy Removal: Professional Bodies Chart Path on National Development



L-R: Assistant Secretary-General, APBN, Mr Anthony Adenubi; Secretary-General, APBN, Pharm. (Mrs) Adefolake Adeniyi; President, APBN, Mr Manason Rubainu; Deputy President/President-Elect, Nigeria Society of Engineers (NSE), Engr Margaret Oguntala; President, Association of National Accountants of Nigeria (ANAN), Dr James Ekerare Neminebor; and the National President, Association of Medical Laboratory Scientists of Nigeria (AMLSN), Prof. James Garba, at the Board Meeting, held at the Pharmacy House, Anthony Village, Lagos.


The Association of Professional Bodies of Nigeria (APBN) has reiterated its commitment towards supporting the administration of President Bola Ahmed Tinubu in actualising a new and prosperous Nigeria, where things work for the betterment of citizens. The association made this pledge during its board meeting for the APBN Council Year 2022 – 2024, at Pharmacy House, Anthony Village, Lagos, on Wednesday, 21 June, 2023.

Appreciating the support and contributions of the Pharmaceutical Society of Nigeria (PSN), as one of its members and foremost professional body in Nigeria, President of APBN, Mr Manason Rubainu, called on members to think of ways in which the association can make impactful contributions to the development of the country, especially now that a new government has just assumed office.

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“Now that a new government has just assumed office, we as a body of core professionals cannot just sit down and fold our arms. We have to think of ways in which we can contribute to the development of our country through new and innovative ideas”, he said.

One of the major issues discussed at the meeting was the issue of subsidy removal and its implications on the Nigerian economy. Noting that the removal of subsidy has led to the hike in prices of petroleum products, in particular and the cost of living in general, Rubainu threw the matter open before the members of the association.

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He asked: “What can be done to alleviate the sufferings of Nigerians since the removal of subsidy has led to the rise in prices of commodities?” Responding members of the association called for the immediate rehabilitation of our ailing refineries, stabilisation of the exchange rate and the licensing of more fuel importers, in order to make the sector competitive in terms of pricing, among other measures.

Contributing to the discussion, First Vice-President of the Chartered Institute of Bankers of Nigeria (CIBN), Prof. Deji Olanrewaju, bemoaned the level of corruption that had shrouded the subsidy regime in Nigeria. He observed that corrupt persons had formed a league to defraud the Federal Government in the name of fuel subsidy. He however agreed that as professionals, one of the roles of the APBN is to ensure that palliatives meant to cushion the effects of subsidy removal get to the rightful target.

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For the National President of the Association of Medical Laboratory Scientists of Nigeria (AMLSN), Prof. James Garba, government should have set up a committee to review the subsidy situation before going ahead to remove it. He argued that the sudden removal was responsible for the level of hardship being experienced now, as a result of citizens’ unpreparedness for it.

While presenting membership plaques to incoming members, Rubainu urged them to uphold their ethical values as important professionals who have roles to play in national development.


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