A scathing critique of former President Tinubu's abrupt removal of petrol subsidy has emerged from Lawal, former Secretary to the Government of the Federation (SGF), who attributes the move to the collapse of the Nigerian economy.
In a recent episode of Trust TV's Daily Politics, Lawal voiced his concerns over the lack of a proper cabinet in place when Tinubu announced the end of the controversial petrol subsidy regime shortly after his inauguration on May 29, 2023.
According to Lawal, the hasty decision sent shockwaves through the nation, exacerbating economic woes and triggering a surge in the price of petrol from ₦180 to over ₦600 almost overnight. He emphasized the detrimental impact of such a decision, particularly in a country where transportation serves as the lifeblood of commerce for both the affluent and the common man.
Highlighting the absence of a fully constituted cabinet and Federal Executive Council to navigate the fallout of the subsidy removal, Lawal painted a grim picture of the ensuing chaos, likening it to a balloon deflating and leaving Nigeria in a state of collapse.
Reflecting on the immediate aftermath of the subsidy removal, Lawal shared personal anecdotes illustrating the drastic escalation in transportation costs, citing instances where the price of animal feed and the expense of transporting farm equipment skyrocketed to unprecedented levels.
Drawing on his experience as a farmer, Lawal underscored the widespread ramifications of Tinubu's policy shift, lamenting the crippling effect it had on various sectors of the economy.
As Nigeria grapples with the repercussions of Tinubu's controversial decision, Lawal's critique serves as a stark reminder of the importance of prudent policymaking and the need for comprehensive planning to mitigate adverse outcomes in a fragile economic landscape.
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