It is no news that the effect of fuel subsidy removal is biting really hard on Nigerians.
“Why did this policy have to take effect on the President’s first day of office?
“How will workers cope with the increase in prices of food and transport without a corresponding salary raise?
“What will happen to business owners who are still trying to recover from the adverse effects of the recent cash crunch?”
There are many questions on the mind of the average Nigerian at the moment.
These concerns are valid and understandable, however there is no “better time” for the change we truly seek.
The Fuel subsidy removal policy has been talked about even by past administrations up till the recent Buhari-led government.
President Tinubu only enforced it on his Inauguration Day by saying, “Fuel subsidy is gone”.
Have You Read: Fuel Subsidy Is Gone – Tinubu
This is because the government has been investing a lot of the nation’s wealth into fuel subsidy removal, which enriches petroleum marketers at the expense of other sectors of the economy.
Now, with this new policy, the government can channel the funds it spends on oil subsidy to education, health, infrastructure, agriculture, and so on.
So far, many prominent personalities have applauded the President for taking the bold step to make the pronouncement, as it is in the best interest of Nigerians.
However, there are a few counter checks that would have made this development a welcome one with little or no adverse effect on the masses.
- Increase in the minimum wage
- Provision of alternative means of transport
- Control food supply and inflation
- Support the local refining of oil
- Increase exportation
Also Read: 7 Fuel Subsidy Removal Benefits Nigerians Are Not Seeing
More often than not, the implementation of an idea or policy goes a long way toward determining the outcome.
The removal of fuel subsidy is a policy that has come to stay, but Nigerians are hopeful that it will bring about a positive change.
