Ex-President of the Federal Republic of Nigeria, Muhammadu Buhari, on Monday discloses on the petrol subsidy removal ‘challenge’ that he left for his successor, Bola Tinubu, saying had it been the policy was implemented, the All Progressives Congress (APC) and Tinubu would have lost in the Presidential Elections.
Speaking through spokesman, Garba Shehu, via a statement, the ex-president however, commended the steps taken so far by the new administration in implementing the removal of petrol subsidy and attempt to unify the Naira exchange rate.
The statement, according to Shehu, was a response to constant queries by some critics who have questioned why Tinubu did it in weeks to remove the petrol subsidy whereas Buhari didn’t do so for several years.
He said, successive polls indicated that the ruling party would have lost the 2023 election if the Petroleum Industry Act, containing the petrol subsidy removal, was implemented before then.But take a look at this also;
“The massive electricity subsidy. The fraudulent fertilizer subsidy. Hajj/Christian Pilgrim subsidies. Remember them?
“The diesel subsidy. Aviation fuel subsidy. LPFO. Kerosene. Cooking gas and the other subsidy policies we found in place, and put them firmly on the ground. Remember them?
“For people with short memories, many of those subsides were all in place when president Buhari was elected to office in 2015 then vanished by May 2023 – including the annual fertilizer subsidy that weighed 60-100 billion Naira (that’s trillion naira in about 10 years – You see that??) heavy on the federal budget each year.
“So no, Buhari didn’t remove the subsidy – but in vitally important stages he removed every other budget-busting, shockingly bad economic-growth-crushing subsidy along the way.
In Conclusion: If you check back up in this article, you may probably have an answer to repeated questions on the removal of subsidies on Premium Motor Spirit, PMS and that arising from the dual rates of the Naira in the Central Bank and the parallel market in Nigeria.
But are you still asking "why did Buhari ‘fail’ to do these? Drop your comments below!
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