By Yahaya Tataunu
During electioneering campaigns in 2023, the current Nigerian President promised breaking the shackles of poverty from the ankles of poor Nigerians. It is not true that politicians cannot be held responsible for whatever electioneering promises they had earlier made to the electorates before their assumption of office. This is because, it is a social contract and binding. Indeed, that is the parameter used to assess the success or failure of a particular Presidency.It is not a mishap. Nigerians are now crawling, with inability to afford petrol/fuel or premium motor spirit( PMS) and the attendant spiraling prices of food and services due to their high cost.
It is seemingly a case of misfiring. Nay, it is a misleading dandle. Nigerians are sniffing and snoring when the roof is on fire. President Bola Ahmed Tinubu came like a weakling but suddenly had turned a wolf roaring to devour any opposing views and voices: a dog in the manger one would say. By his(Tinubu’s) actions, he is so comfortable and more interested on global trotting: riding on the back of wearied Nigerians.
Under his watch, the economy has grown from worse to worst. The question which begs for an answer is: who can rescue the ship (Nigeria) from drowning? This has become even more difficult when the Presidency has abysmally grew hard-face.
Among Nigerian elite (class), who has not spoken against the dreaded policy in the guise of creating a level playing field and allowing the market control the prices of refined products in Nigeria? And the Nigerian National Petroleum Company Limited, NNPLC abdicate its official constitutional suite.
It is therefore not surprising when the legal luminary, Afa Babalola, SAN on the occasion of the presentation of an Award by the Ekiti Kete Coalition, USA, rebuked the government of President Bola Tinubu and his marketing board designate, the NNPCL for creating a monopolistic and a force majeure by dictating price of the PMS in an already deregulated market. Who is yet to speak against the unrepentant Presidency’s stance on how to regulate the economy? The amorphous marketing practices have not yielded any positive result(s). Till date, there is no clear agenda as to how the benefits accruing from the fuel subsidy will be utilized.
Undoubtedly, nobody has been able to give a definite statement on the statistics of revenue(s) that the Federal Government has made from the subsidy removal since 2023.The situation is clearly abnormal and unlike what obtained in previous administrations with regard to the revenue from the subsidy imbroglio and the accompanying the prudent decision(s) on how to gainfully utilize the proceeds of the policy.In those administrations, there was the Subsidy Reinforcement and Empowerment (SURE) programme which provided the necessary infrastructure for Nigerians.
It has become impossible for the Finance Minister, Chief Cardoso and his Works Minister counterpart, Engineer Dave Umahi to address the Nigerian media to let Nigerians know, to which extent, President Bola Tinubu’s government has properly managed the financial gains of this current policy.Therefore, it is high time President Bola Tinubu made a National Broadcast on the state of the economy vis-à-vis the use of the gains (profits) from subsidy removal. With this done, Nigerians would be abreast on the way forward in the country.