In my wide memo to the then newly President-elect on March 2023, published by print and online mediums titled The task before the incoming Administration.
I have reminded Mr president on the need to have a team of competent people toward Renewed Hope and rolled out the administration Economic blueprint.
Your Excellency, this open latter neither on personal sentiment nor an open criticism at your administration but a gospel truth to your sight or ears if it reach you.
your administration inherited bankrupt country’s by the way Buhari’s administration badly managed economic and left the country in a neck-deep in local and foreign debt.
But in fairness to Justice, current hardship experiencing by the citizens in country is largely cause by the administration’s removal of petrol subsidy. You are keen believer for Economic Liberalism and Market Forces but nation’s captain of economic are heartless capitalist whose care about they well being.
Nigeria is facing one of its worst economic crises in years the country currency hitting an all-time low and Nigerians never witness how our currency floating in year’s like now.
With all sense of respect to you and your office there is different between admitting of the problems and bringing a lasting solution. Taking personal responsibility for the pains poor people are going through is courageous but offering lasting solution toward alleviating the problems is most needed. Several attempt has been made to cushion the effect of the removal of subsidy all go in vain.
In your National Broadcast on July 31, announced, first sets of palliatives, revealed a N500bn palliative plan that included N100bn to acquire 3,000 units of 20-seater CNG-fuelled buses, N200bn to boost agriculture production, N75bn for manufacturers, and N125bn for micro, small and medium-sized enterprises, and the informal sector. The administration also pledged to invest N50bn each to cultivate 150,000 hectares of rice and maize. All announced palliatives to Nigerians by the administration have not yielded any impact as each passing day the suffering reaching unbearable point. Some weeks ago, president orders distribution of free grains from the Strategic Food Reserves but civil servants forgot to brief him that the reserves are empty. Instead of tone down the agony of Nigerians both palliative none of the alleviate the suffering of impoverished Nigerians. Efforts seem likes a chopping off a person’s legs without giving them anesthesia neither providing drugs to prevent inevitable infections.
With the removal of fuel subsidy, more monies are being shared by the federal, state and local governments and some of these monies are changed to dollars at the parallel market. Business Day has asked us to open our eyes from now on the price of dollars one week before FAAC allocation, check back the price after the allocation and you will see clearly the difference.
The present Administration fanatically believe in Economic Liberalism and Market Forces. But forget that US recently allocate over $300b on fuel subsidies and UK spends 23% of its public expenditure on subsidies. Based on his belief, the administration end fuel subsidy, and will soon Electricity subsidy will be remove while the Ghana reduce electricity charge to it’s citizens.
The inflation reached up to 30% according to National Bureau of Statistics.
The administration had a genuine intention to restructure economic sector, but It seem the policies were not being implemented with a human face because the administration did not feel for Nigerians in this kind of abject hardship. I wonder why in the 21st Century Nigerians are talking about daily survival Ghanaian, , and Beninese have passed the level of hunger and can afford three meals per day. Nigerians are crying about food prices beyond their affordability. I am not predicting doom but we are living on a gun powder potential to explode if care not taking. Nigerians want to have a relief not Mr. President taking responsibility for the hardship the citizens went through.
Dukawa, a media practitioner can be reached on abbahydukawa@gmail.com
