Assessment of Tinubu's Fuel Subsidy Removal: Sagay's Critique

 Former adviser to President Muhammadu Buhari, Prof. Itse Sagay, has criticized President Bola Tinubu's abrupt removal of fuel subsidy, citing the resultant hardship faced by Nigerians.

Speaking on a Channels Television program on Friday, February 9, Sagay expressed his belief that Tinubu should have waited for six months after assuming office before implementing the subsidy removal.

Sagay, who chairs the Presidential Advisory Committee Against Corruption (PACAC), remarked, "Petrol is essential to our daily lives. The cost of living has risen, making basic necessities expensive. I believe we could have waited another six months, allowing domestic production to increase, before removing the subsidy."

He further stated, "The immediate and sudden removal of petrol subsidy has caused significant hardship, which is almost unbearable."

Expressing his discontent with the timing and approach of the subsidy removal, Sagay suggested that it would have been preferable for the government to wait until internal production increased before taking such action. He noted the commencement of production by Dangote and the near-completion of the Port Harcourt refinery as positive developments that could have influenced a more gradual transition.

Sagay acknowledged the decades-long reliance on subsidies but emphasized the importance of a smoother transition, remarking on the noticeable changes in lifestyle resulting from the sudden removal.

Regarding the depreciation of the naira, Sagay expressed concern, stating, "I never imagined a time when the dollar would exchange for over N1,000. This trend must be halted, or it will undermine the government's efforts."

However, despite his criticisms, Sagay expressed confidence in the new government's ability to provide competent leadership and alleviate the challenges faced by Nigerians over time.

"They are competent individuals who understand their roles. I trust them to navigate through these challenges, easing the pressure on Nigerians and improving our overall situation," he concluded.