On Monday, May 29, 2023, Bola Tinubu and Kashim Shettima, were sworn in as Nigeria’s President and Vice President respectively.
With their campaign slogan of ‘renewed hope’, many Nigerians were expecting that the government would yield positive dividends.
However, it was disheartening that barely minutes after being sworn in, the president made a pronouncement which caused confusion and put pressure on citizens.
During his inaugural speech, Tinubu had said, “We shall continue the efforts of the Buhari administration on infrastructure development. On fuel subsidy, unfortunately based on the budget I had glimpsed before assuming office and what I have heard, there is no provision for fuel subsidy. Fuel subsidy is gone.”
While it is clear that no provision was made for fuel subsidy in the budget even before Tinubu assumed office, it was expected that he should have approached the issue with much tact.
In August 2022, former President Muhammadu Buhari’s government had announced that it had set June 2023 for the removal of the humongous fuel subsidy which costs the government trillions of naira.
Going by the above, it was obvious that Tinubu was not the one that removed fuel subsidy. However, what many Nigerians expected was that the president should not have made such an abrupt pronouncement, without first preparing the minds of citizens for the eventuality.
After he made the announcement, I had even expected that his next line of action would be a speech clearing the air, but there was nothing like that.
For a country that relies heavily on petroleum, there was no way an increase of over N300 would not have a devastating effect on the vast majority of the masses.
With many workers barely managing to survive on their meagre salaries, this latest increase would put even more strain on their finances.
In the ensuing confusion and bedlam that trailed the president’s announcement, I literally had to trek home from work the next day because of the astronomical rise in the price of petrol. Due to the long walks I engaged in, my stress level increased. I am sure that there are many other Nigerians who are in similar situations.
I admit that the removal of fuel subsidy is a right move. However, I felt it could have been better if it had been allowed phased out gradually, to reduce the negative impact it would have on citizens. If that had been done, I am sure the populace would have been more open to embracing the change, regardless of how bitter it would have been to swallow.
It must however be noted that removal of fuel subsidy in itself is not the panacea to the many economic woes plaguing the country. It is sad that many decades after crude oil was discovered in commercial quantities in Nigeria, the nation still does not have a single functioning refinery. Pathetic, indeed!
Though the government has promised that the funds hitherto used to pay for subsidy will be used for other purposes, such as infrastructure development, as well as quality education and healthcare.
But, my fear is that some unscrupulous elements in the government will end up diverting the resources which the country desperately needs into their pockets.
What is the guarantee that those funds would be used for what the government has said?
This is against the backdrop of the fact that the government stated that the funds looted by the former military dictator and Head of State, Sani Abacha, which have been repatriated back into the country, were ‘relooted’ by corrupt politicians and government workers.
It is needless to say that many Nigerians are already going through a lot of hardship, and we don’t deserve to suffer even more.
For Tinubu to succeed as the president, he must demonstrate that he has the interest of the people at heart. The buck stops at his table, so he must make sure that those badly needed funds are used for the right things to alleviate the sufferings of Nigerians.
We are patiently waiting!
