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Nigeria’s Woes Started May 29 After Tinubu Was Sworn-In – Babachir Lawal
Nigeria’s Woes Started May 29 After Tinubu Was Sworn-In – Babachir Lawal....KINDLY READ THE FULL STORY HERE▶
A former Secretary to the Government of the Federation, Babachir Lawal, has asserted that Nigeria’s current troubles began the day President Bola Ahmed Tinubu was sworn in to manage the nation’s affairs. Lawal’s remarks come as part of a broader critique of the policies implemented since Tinubu’s inauguration on May 29, 2023……CONTINUE READING
In his inaugural speech, the former Governor of Lagos State declared an end to the era of fuel subsidies, stating that the government would no longer subsidize the commodity. This decision has had a profound impact on the prices of goods and services across Nigeria.
During a discussion on Trust TV’s Daily Politics, Lawal elaborated on the consequences of the subsidy removal, emphasizing the significant rise in transportation costs, which has adversely affected both affluent and ordinary citizens who rely on transportation for their livelihoods.
“The decision made on May 29 without a functioning cabinet and the Federal Executive Council to manage the repercussions of such a drastic policy was a grave mistake,” Lawal criticized. “This lack of preparation and foresight led to Tinubu’s downfall and the subsequent economic collapse.”
Lawal pointed out the immediate and severe economic challenges following Tinubu’s unexpected announcement. “I can only repeat what I said before. On the day you were inaugurated, you embarked on major policies that significantly impacted society. It was like a cowboy or macho man removing the subsidy without having the necessary advisory team in place,” he said.
He continued, “At that time, there was no minister of planning to anticipate the consequences, no minister of finance to calculate the societal impact, and no Federal Executive Council to approve such decisions. This lack of preparation led to Nigeria’s immediate collapse.”
Sharing his personal experience as a farmer, Lawal highlighted the drastic rise in transportation costs. “Immediately after the inauguration, transportation fares tripled. I used to pay N270,000 per truck to buy animal feed for my cows from Zaria. That week, the cost soared to N1 million just for transportation. I couldn’t afford it because the fuel costs had skyrocketed. Everything became more expensive,” he explained.
Lawal further shared, “Last week, I bought equipment for my farm and had to pay N3 million to transport three tractors from Kano, a price hike that illustrates the severe impact of the subsidy removal on everyday transactions.”
Lawal’s critique underscores the broader economic distress felt across Nigeria, highlighting the critical need for well-considered policies and comprehensive planning to mitigate such adverse outcomes in the future.
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