Atedo Peterside, the founder of Stanbic IBTC Bank, has criticized the federal government’s decision to provide a N90 billion subsidy for the 2024 Hajj pilgrimage. Peterside voiced his concerns following the announcement by Nigeria’s Vice President, Kassim Shettima, who disclosed the subsidy during the inaugural airlift of Hajj pilgrims at the Sir Ahmadu Bello International Airport in Birnin Kebbi. Shettima stated that President Bola Tinubu approved the subsidy to ensure a smooth and successful pilgrimage despite the country’s economic challenges.
Reacting to this announcement on social media, Peterside expressed hope that the subsidy story was untrue. He argued that pilgrimage, regardless of the religion, should be reserved for those who can afford it. He pointed out that subsidizing the Hajj sends mixed signals, especially considering the country’s current economic situation.
Peterside’s post on X (formerly Twitter) emphasized his stance against the subsidy: “I sincerely hope that this Hajj Subsidy story attributed to @officialSKSM is not true. Pilgrimage in all religions is only for those who can afford it. Terrible mixed signals if true.” His comments have sparked a discussion about the appropriateness of government spending on religious activities amidst economic hardship.
Source: Business Day